ETHUSD huge bullish triangle

COINBASE:ETHUSD   Ethereum / Dolar
Dilihat 2888 kali
2888 8
In my long-lived Crypto-trading experience... These are probably the most accurate, reliable patterns in Crypto. I've never seen one this large though so it might not work out. Breaking below $200 or so would invalidate it. So we'll see how much juice is left in this decline.
Overall this targets a breakout by DevCon 3 and a $700 price target.
Komen: Progressing nicely here but it's still very possibly a typical bounce you see from a major, key trendline. Hard to say for sure what makes this pattern 'legit' (besides the obvious, breaking above $400), however just eyeballing it the $300 level might be key to get above initially. Quite a ways away.
Komen: $310 and then $340 will be the next major resistance points to break. Overall though breaking $300 was pretty huge for this pattern.
Dagangan ditutup: hentian tercapai: I sold my ETH awhile ago in the low-$500's. Honestly didn't think this one would pan out, seeing as it technically broke below the triangle in early-November. Go figure!
I'll be buying back in the mid-$300's hopefully within a couple weeks (by Christmas I'll say).
Nice. I have my buy orders at 205.00
ctharvey minthooka
@minthooka, Bet that wave felt nice.
+1 Balas
minthooka ctharvey
@ctharvey, indeed :)
ProTip: Try not using log scale for triangles. Highly deceptive.

SuperProTip: Don't go long during the middle of a market-wide correction from a parabolic-exponential 1000%+ explosive rise. You're gonna get burned.
@oshin11, I see your point re: log scale and triangles. I've had better experience and trades using log though versus linear, hence the log.
And I totally agree with you about not catching falling knives of parabolic assets. I've been lucky enough to have been long ETH since the beginning and have traded my batch successfully, so my stops are going to trigger some larger actions to my portfolio if this doesn't come to fruition.
By the way, you have some really good trades posted. Curious why only 2 over past 3 months though?
oshin11 Jesse_Livermore
@Jesse_Livermore, I don't always post my stuff because I am usually too busy with my real job. Although, this may become my real job considering I've made more trading in 4 months than several years of my real job.

The reason you've had success with log triangles in the past and why I warned you is because you said you usually don't do it on this time scale. On shorter time scales the price fluctuation is smaller and hence the logarithmic distortion is exponentially smaller. I hate that most trading platforms have a log scale but only for the price. If you wanted to do a real trend analysis you would want a log-log plot.
oshin11 Jesse_Livermore
@Jesse_Livermore, Also the reason I think this triangle wont work out for you is because I think within the coming weeks we will make a return to 100, possibly lower if people capitulate. I had an M-top reversal pattern mapped out for fun and it is working out really well funny enough.
@oshin11, Yep, M top is the exact thing I see happening if we break this $200-210 (and $180, linear scale) triangle. The time-frame I watch these on is not that different than this, however the sheer size of this thing is definitely beyond anything I've seen...again, hence log. I'm also bringing in the fact that log scale makes it finish around DevCon3 in November, to also justify it...lastly, from my previous life I was in and around Wall Street and I've seen their tricks and it definitely feels like the news cycles here have been quite purposeful (put on tin foil hat) and so I wouldn't put it beyond the scope of some large entities out there to use the news cycles deliberately to obliterate price just before things really get going.

Never seen log time scale before. Know of any services out there in Crypto-land with them?
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