The Pennant Squeeze
A bullish pennant has formed over the last week, giving us an excellent long opportunity.
- Things to consider -
Like stated above this is based strictly on TA. We could still possibly see a break towards the bottom. Here are my following reasons:
According to my charts ETH is still in a BEAR market. So until we break this pennant things are not looking promising.
ETH still has not released any technical upgrades for the network.
August 1 - Many people are waiting to enter/re-enter the market until after this date.
However, based on strictly TA, I am betting on a long opportunity here.
I have a Long entry set at $232 which allows for confirmation.
If we happen to break the bottom of the pennant I will place my short entry at $224
For the safety of your account I do encourage waiting for confirmation.
There are several reasons why this could go south.
I wish you all luck!
Note:
As soon as we make a break I will post profit level in the comments below.
Also, my trendlines were placed at different time intervals, which may make them appear skewed.
- Things to consider -
Like stated above this is based strictly on TA. We could still possibly see a break towards the bottom. Here are my following reasons:
According to my charts ETH is still in a BEAR market. So until we break this pennant things are not looking promising.
ETH still has not released any technical upgrades for the network.
August 1 - Many people are waiting to enter/re-enter the market until after this date.
However, based on strictly TA, I am betting on a long opportunity here.
I have a Long entry set at $232 which allows for confirmation.
If we happen to break the bottom of the pennant I will place my short entry at $224
For the safety of your account I do encourage waiting for confirmation.
There are several reasons why this could go south.
I wish you all luck!
Note:
As soon as we make a break I will post profit level in the comments below.
Also, my trendlines were placed at different time intervals, which may make them appear skewed.
Note
We have just broken the main trendline of the pennant. However I suggest waiting to short until we have confirmation.An upswing is still not out of the picture!
This is the wild west
Note
waiting on a break to initiate the short!Ordre annulé
The sky is falling the and floor is LAVA!Waiting for a break, but it looks like we're just getting sideways action today.
Stay posted!
Transaction en cours
I'm taking a risky move here and shorting.
Not expecting you to join with the unpredictable market we've had today, just keeping you all posted!
Good Luck!
Transaction en cours
Profit Levels:Note
closed short for 8.5% profit. looking to re-short if or as soon as we break the 200 level
Transaction en cours
Late post, but Another Bearish Pennant has formed for ETH. Target $185. Wish you all luck!
Trade fermée: cible de profit atteinte
ETH has fallin into the Abyss. Will likely see a small retracement.
Stay tuned for next position!
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
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.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
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.