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ETH IMMEDIATE Short Sale: Fibs, Fan, Trends, and ResistanceWhat's up Guys and Gals, this is a short sale idea for Ethereum based on 3 prior sharp sell-offs over the last few months. The idea for this trade is based on the market meeting resistance at the 38.2% Fibonacci level (the entry on our potential short trade), and re-testing the 61.8% Fibonacci level (which is our profit target AND potential entry into a long trade). The time-frame to be in this short trade is roughly two to three WEEKS. This is about how long each prior sell-off in the last 3 months took to make their runs, with plenty of opportunities to get out in between. The risk-reward profile on this trade varies depending on where you place your stop, but the example I've provided is a good middle-of-the-road stop (a reasonable 18% loss limit) with an attractive R:R of 1:2. As long as you keep your loss limit under 30%, giving your trade some additional room to breathe is not a bad idea. The benefit of this is insulating your position against the potential effects of breaking news events, while the disadvantage is more risk. Approximated trendlines and the top of the downward channel roughly coincide with the 61.8% level, which, to me, adds to the support strength of the price level there as a buying opportunity. With the Gann Fan, price should theoretically fall faster once it retraces past the 3/1 line. The 3 represents units of movement vertically (price) over the 1 unit of movement horizontally (time), which I also see as added confirmation for this trade idea. If you are just not comfortable selling ETH, I would recommend that you wait for price to come down into the 61.8% level to enter into a long position. Don't forget to check out my long-term Elliott Wave long trade idea for bitcoin as well, you won't want to miss it! I'll post an update if North Korea immediately sends price flying and wrecks this trade. Happy Hunting Everyone.
Short
by Piptocurrency
3
Expanse EXPBTC: Massive PumpsSo here's something different. This is far from technical in the traditional sense, but when I was searching around for different coins that had strong teams, concept, etc but low market cap, I found Expanse. It's an interesting platform in a lot of ways, but the marketing is really bad to me. The videos are out of some bad new age, sci-fi flick. So this coin isn't part of my core holdings, but I'm interested to flip it as I noticed that it is really prone to massive pumps every now and then. So I took the smallest of these pumps and marked it out across all the previous pumps (green bars) and found a nice 'safe' estimate of an exit point. A bit high risk and may take time, but I've dropped a small amount in to see what happens. The pumps are fast and extremely short lived, so I've already placed my sell order and my target price. Let's see what happens.
EShort
by dctobkk
12