Looking at the 4 hour chart of ETC. Price did consolidated at the 50% retracement level as anticipated. Price was able to break through that level and has now found support at the second area I had drawn on the chart. As you can see there were a few changes made to the chart. The down trendline has been extended to the support area marked with the blue horizontal line. There was a new solid gray horizontal line added on the chart. This line is drawn from the high ETC made on 2017-09-01. That line was added just for fun to see what price does if it hits that level. Still looking to see if ETC can make it to the blue horizontal support line. Lets wait at see.
Trade chiuso: obiettivo raggiunto:
All targets were hit. Price moved lower than horizontal resistance and found the lower trend line. Now neutral and evaluating price action.