This is just an idea of a chart formation that I think could be forming. If the market is indeed needing a correction than this chart formation could prove to be a good opportunity to add to your ETH position if it presents itself.
On the four hour chart, I've noticed a potential Adam and Eve chart pattern. Others can look at the potential of this pattern here for learning if interested. thepatternsite.com/aedt.html
If price action (PA) breaks down the valley at point A, then the measure rule tells us we can expect price to head down south to the $780 - $740 area. This will probably be a very quick candle and be bought up immediately. Just like the candle on back on 12/22/17.
I myself will be adding when PA hits the top of my rising red channel around the yellow box, just to be on the safe side. This is only if PA breaks down point A on the chart.
On can see from the launch date of PA on 1/1/18 that it finally broke out of and away from the rising red channel. PA 'might' want to come back down for a quick test of the rising red channel for a final test before lift off to hit the top of the rising white channel at $3400 (not pictured). PA took approximately eight days to reach the height of the 'Adam' peak, so one could say that it might take 8 to 10 days for PA to make its way down to 'C' to complete the pattern.
Questions and comments welcome
thanks
On the four hour chart, I've noticed a potential Adam and Eve chart pattern. Others can look at the potential of this pattern here for learning if interested. thepatternsite.com/aedt.html
If price action (PA) breaks down the valley at point A, then the measure rule tells us we can expect price to head down south to the $780 - $740 area. This will probably be a very quick candle and be bought up immediately. Just like the candle on back on 12/22/17.
I myself will be adding when PA hits the top of my rising red channel around the yellow box, just to be on the safe side. This is only if PA breaks down point A on the chart.
On can see from the launch date of PA on 1/1/18 that it finally broke out of and away from the rising red channel. PA 'might' want to come back down for a quick test of the rising red channel for a final test before lift off to hit the top of the rising white channel at $3400 (not pictured). PA took approximately eight days to reach the height of the 'Adam' peak, so one could say that it might take 8 to 10 days for PA to make its way down to 'C' to complete the pattern.
Questions and comments welcome
thanks
Comentário:
good enough...
Trade fechado: objetivo atingido
Comentário:
worked out even better than I had hoped.