Type of Trade: Short
Support level: 1715-1785
Type of Entry: 1
Odds Enhancer: RSI should be overbought when price
arrives in shorting zone
ETH continues to recover. Although I already pulled some profits from the 370 long position, now I'm using a trailing stop to protect profits. Next targets are 795 and 900. I plan to short if it respects the 920-1000 pivot, but only on confirmation exit since I will be fighting trend at that point. ETH needs to retest the March lows and create a healthy double...
BCH finally arrived into strong resistance at 1450-1630. Since trend is bullish, as I said yesterday, I will take this short on confirmation exit, only if the resistance level is respected, and BCH falls down through 1450. Entry to the short is 1450, Stop is 1630, Targets are 1270, 1090, & 910. The pivot low in the 600's should be retested for a healthy double...
Still early to engage on DASH. A better entry in the 2 hr chart can be found in the $380-$400 area, but still has long way to go. Any purchase must be conservative until trend change has been confirmed (HH, HL), but it's looking very good at the moment. As on NEO and ETH, I expect DASH to get to the Target/Selling zone, and then a retest of the pivot lows created...
Bottom created in Support zone. Purchase price was $370, but since then it has created on smaller time frames spectacular support areas to join the bounce. It needs to retest (and hold) those lows in the $350 area for me to believe is for real. I expect a Double bottom formation within the next month or 2. Profit area shown on chart, and potential shorting...