ETHXBT: Short or sell for Bitcoin here

Analysis on chart.
There's one day left for this uptrend, the activity in the top reeks of profit taking, and the enviroment is that of a topping formation, with people getting very emotional and hyped about it, and complacent, and 'happy' with its progress.

Time at mode weekly setup time runs out in one day, at least consider selling if you're a holder.
Thank me later.

Cheers,

Ivan Labrie.
Time at Mode FX

PS: Contact me privately for consultation, mentoring or trading signals. See my profile for details.

ความคิดเห็น:

Watch for 0.0387...if not hit in 3 days, it might further confirm the retracement or reversal idea.

ความคิดเห็น:

Time's up, and pullback.
Now, let's see how the day closes, and how it moves in the coming days.

ความคิดเห็น:

The retracement has been contained for now, this is a considerably bullish bar if it closes like this.
I'd still look into getting out of longs if in.

ความคิดเห็น:

We can take the short now, stop loss can be fairly tight.

ความคิดเห็น:

New daily high doesn't look too good, but overall we could see continuation down.
I'm not in any position for now.

การซื้อขายยังคงดำเนินอยู่

ความคิดเห็น:

Very nice progress with our shorts.

ปิดการเทรด ด้วยตนเอง:

Out of shorts for the time being.

ความคิดเห็น:

Support breaking down, we might see lower prices.

ความคิดเห็น:

Shorted 0.03, sl 0.035, covered 0.02274.

We might see new highs considering the recent price action.

See Tim West's publication on this subject for more information. This setup was more of a warning for longs to book some profit before a fall.

Clearly the sentiment extreme and the technical setup were correctly diagnosed.

Cheers to everyone who sold and shorted...and even more to those who flipped long at our exit!

ความคิดเห็น:

I wouldn't be surprised if we break the high here...one day after my post, within 2 months.