ETC has broken through the Kumo cloud and looks like it is retracing to the flat Kumo area, or possibly further down to the Kijun which corresponds to the 50% fib. The T-K lines crossing twice within a few weeks time span of each other and Kumo Twist is a good indication that price is shifting to a bullish trend.
I'll be waiting for a Heiken Ashi doji candle to form before looking for a long position. The Chikou Span can give some indication of how long we might have to wait for a good entry, to me this looks like anywhere from two days to a week for it to clear turbulence in the cloud.
If ETC price breaks above the recent high, a possible edge to edge trade is in play on the Daily with an adaptive MA system:
This gives a possible first target at ~.003 or +45%.
Kommentar
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Nice looking Heiken Ashi Doji forming on MAMA support, sooner than expected:
Trade ist aktiv
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Buy Signal confirmed. After the Doji candle a good bullish momentum candle is forming:
Trade ist aktiv
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+15% in profit so far.
Edge to Edge trade in play, expecting price to hit target with high volatility:
Trade ist aktiv
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Adding 4HR perspective with E2E trade:
Trade ist aktiv
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Progressing nicely. I recommend placing close orders at target 1 as price typically likes to bounce off of it quickly before retracing and deciding a direction for the next trend.
Trade geschlossen: Ziel wurde erreicht
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+60% closing some positions. Letting the rest run until Stop Loss is hit
this potential bullish turnaround also corresponds nicely to the ETC summit upcoming
philipdinu
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@BeerdHead, Thank you. Agreed, big potential here both technically and fundamentally. Looking forward to watching this play out over the next few months.
BeerdHead
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agree. personally i trade against the ETH-ETC ratio
more bullish for ETH in the long term (vs BTC) so prefer to increase that position
have you analysed ETH-ETC also?
acquired entries at 0360 recently and yesterday at 0427
Nice!.. you may have just bought the ETH dip. I've noticed the 4H triple bottoms are powerful, and on the Daily cloud price looks like it is pulling back to the Kijun or 50% fib.
I like ETH a lot and am a believer (especially in PoS). If BTC corrects for a bit and gives it a chance, I can see price go well above 500 in the coming months.
Sometimes I check out the correlation charts to look for divergences, ETC seems to be correlating pretty well to ETH so far. I hope it continues as ETH gets stronger into the holiday season.
I'll be swing trading ETH my way up and so far I like the 4H breakout above the adaptive MA cloud. I'll be waiting for the MA crossover and then a pullback to bounce off the cloud for an entry:
BeerdHead
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@philipdinu should have made the point clearer - my ETH entries were on spot $290 USD - but then traded against ETC/ETH at the noted ratios here:
I completely missed that the first time, I have never looked at ETC/ETH but it looks very interesting! I will add this one to my charts, looks very bullish.
BeerdHead
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np - yeah but now you probably understand my approach - im bullish on both ETC and ETH (vs BTC) - so i can trade within that pair to grow those positions without even having to touch bitcoin or USD
this potential bullish turnaround also corresponds nicely to the ETC summit upcoming