ETH - AT A GLANCE - DON'T BE TO GREEDY !
D1 : Finally breakout occured on the upside but following the yesterday's sharp upside move
there is a clear lack of follow through which is the first warning sign in this time frame
H4 : After 3 white candles in a row, a black candle took place, second warning.
H1 : A potential double top is taking place with its trigger level @ 3'815, already been tested
once, third warning.
M30: Same picture than H1, in addition MBB has also having been tested twice, fourth warning.
M15 : Same picture than H1 and M30, MBB under attack and top of the clouds already tested once,
fifth warning
M15 : Watch the clouds carefully an check indicators too !
CONCLUSION :
Don't be too greedy, watch closely upcoming price action (recovery attempt towards ATH) and check indicators to detect potential bearish divergence (s), and either take profit and reverse, in placing tight a stop loss
above ATH.
Another alternative would be to take profit on partial exposure and this will depend from which level you are long...
there is a clear lack of follow through which is the first warning sign in this time frame
H4 : After 3 white candles in a row, a black candle took place, second warning.
H1 : A potential double top is taking place with its trigger level @ 3'815, already been tested
once, third warning.
M30: Same picture than H1, in addition MBB has also having been tested twice, fourth warning.
M15 : Same picture than H1 and M30, MBB under attack and top of the clouds already tested once,
fifth warning
M15 : Watch the clouds carefully an check indicators too !
CONCLUSION :
Don't be too greedy, watch closely upcoming price action (recovery attempt towards ATH) and check indicators to detect potential bearish divergence (s), and either take profit and reverse, in placing tight a stop loss
above ATH.
Another alternative would be to take profit on partial exposure and this will depend from which level you are long...
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