I will run you over this chart, how to trade if you should trade when to trade if you are trading what to do.
You will see ETH has been in a downward trend for sometime since its high, its last upward trend started at half this price so this coin has a long way to fall if your not watching whats happening.
Never buy something this high and think ETH next year will be worth a fortune or the year after, the reason we don't do this is today's world we are so innovative with new things coming out across the globe every minute of the hour. Whats to say ETH won't be fazed out and left for dead.
Now ETH has broken its downward trend and gone into consolidation, this tells us that it will either consolidate and continue in the same trend or we will see a break out and try to retest some highs.
Right now though this isn't a coin worth trading I will deliver you so many more lower risk trades with much more upside then ETH to save you some pain.
For those of you in love with the famous ETH and want to have ETH listed on your portfolio don't bother buying this until we break high of the current channel (the green line is high of channel). When we break high we need to close outside of the channel not just spike out. Your stop loss then would be place 1% below the top line of the channel which once again is the green line.
For those of you holding ETH if you think your going to be holding this for the next 5 years let me help you along the next 5 years do you own more ETH at a lower cost. If we break the low of this channel (red line) just sell it and buy back lower. If your worried the day you will sell it that this coin is just going to take off set a limit buy 1% above the red line (bottom of channel.
Now I have set alarms on BOTH channel lines for when the price crosses, this alarm is provided to me by trading view so you all have access to the same tools. If don't know how to use them learn as you shouldn't be trading with out them.
When my alarm buzzes on either line I am going to come straight to this post and give you targets in either direction so you know what and where we are trading to.
So this should cover all ETH questions, if you want info on a coin I love it when you ask but lets focus on coins that are bottomed out not in a downward trend. If we try trade downward trends all the time you will be far better off finding a charity in need of funding and sending them a donation once a month, not only will this be cheaper then you trading you will save money and be doing a good thing for the world.
Cash Is King Peeps keep it coming in not going out we are here to make a ton of it, work with me you will go up not down! I trade all my own trades and I am making a bucket load of cash so just follow suit and let the good times roll!
Managed your risks, judge your decisions on risk VS reward and ask yourself why you are buying something in the first place, don't do it because the neighbour read the newspaper and in 2022 ETH will be worth 10 times its price, because we don't believe any of that rubbish if it was all true why would we need a chart.