ETC Possibly Trending Upward
Looks like ETC might be trending in an upward channel heading to $7 - $7.30. That's about a 5% gain in what could be about 20-30 hours. Not bad, right?
We'd keep your stops tight on this and follow it up with a trailing stop under the bottom edge of that upward channel, with a Take Profit *somewhere* in the horizontal channel.
We'd wait till the price is comfortably in the channel, move your stop up to $7, and let it run. There's no point in actually taking profits and then watching the price reach $10, likewise it's heart-breaking watching a 5% profit turn into a 5% loss. Money management is possibly the most important factor when trading, learn it, use it, refine it.
Good Luck & Happy Trading!
theCrypster
We'd keep your stops tight on this and follow it up with a trailing stop under the bottom edge of that upward channel, with a Take Profit *somewhere* in the horizontal channel.
We'd wait till the price is comfortably in the channel, move your stop up to $7, and let it run. There's no point in actually taking profits and then watching the price reach $10, likewise it's heart-breaking watching a 5% profit turn into a 5% loss. Money management is possibly the most important factor when trading, learn it, use it, refine it.
Good Luck & Happy Trading!
theCrypster
Note
If this stays in the channel we should be seeing a burst upwards within the next couple of hours! Stay Tuned!A break out of the channel to the downside could see a rather large drop back to $6.30!
But let's aim for >$7.00 (!)
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.