ETHUSD very nicely followed my expectations in the past days, heading down swiftly into a wave 3 of an impulse wave. We'll have to see how the rest of this wave plays out, but I'm expecting another drop to around $555-$560 before we start our upmove into wave 3 of a higher degree. This would complete the fifth wave in our present correction, setting up nicely for the next upmove. Though it was a bit of bother to chart this, I think my present wavecount is still very solid.
A short position would, at this point, but possible of course, setting up for that last move downwards. Personally, I'll start adding to a long position using scaled orders along the $570-$550 area right now.
A short position would, at this point, but possible of course, setting up for that last move downwards. Personally, I'll start adding to a long position using scaled orders along the $570-$550 area right now.