ETCEUR - let's wait a little bit

ETC did a nice breakout. Let's see what could we expect.
I'll wait for retrace to .618 Fib level (and retest), and if it won't close bellow 9.2, I'll enter a small trade at ~9.25 with targets at 11.9 and 13.4.
Otherwise I'll wait for retrace to Support 1 or Support 2.

Commentaire:

I have to adjust entry levels.
If in a bull market, bounce back or trend continuation happens at 0.382 or 0.5 Fib level, so we should pay attention at these levels.
If price drops bellow 0.618 level, we enter so called "dead zone", where trend change is more probable.
So, I'll check what will happen at 0.382. If it won't get broken after retest, I'll enter the trade around 9.8.
The same applies for 0.5 level with entry at around 9.5.
And drop to 0.618 level COULD mean that we won't get to our aimed targets.

Ordre annulé:

I can feel those "waiting for BTC to drop to buy more" memes with skeletons ... Not a good way to wait for retraces, especially in bull market.
Next time I'll follow @dlavrov's ideas on entering trade on breakouts.