The DAO key levels are acting as a guiding light in the land of ETH. It seems the smart money likes to make buyers drown before sending ETH back up. The average time they can hold their breath 'under water' is 5 bars. Let's see if that's the case this time. I'm holding longs and expecting another test of the resistance up next. For this type of instrument, stops are problematic, and it's simply wiser to adjust size based on the average true range value of your trading timeframe.
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Ivan Labrie
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Back above the key level after 4-5 days as expected. I went long, and holding now. Looking for a longer term position off this rally from the lows.
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I trailed my long stop to where the key level sits, it should move straight up, else I don't want to hold longs.
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We can enter long and risk one average range down.