PatrickGonsalvez

cookyjar thoughts for eth on thaipusam

BITFINEX:ETHUSD   Ethereum / Dollar
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forking from higher average price just before xmas             to highest average fork, trend continue be upward.
from chart, eth has found support near the bottom trendline twice in jan, which makes positioning a stop loss just below this level a logical choice. If breaks above the resistance of the center line, the target will then change to the top line and the center line will then become the new support. It is not uncommon for a trader to sell a security near the resistance of the center line and then see it break through and head higher. This is the main reason why other indicators should be used to confirm any reversal for mid-term if you are a mid-term trader like me.
my current maturity target is just befor end feb.lat 20days high price is at 1500 vs lowest at 500 and mid being at about 840. target growth of 45-50%. so am looking at best low price to see price growth of 40% in next 30days or less.

from macd , likely to read a converge in a week or less when buying is preferable. how soon? my take base on previous low point is we have yet to see lower prices, also part of lacking volume . by week ends, we likely will be at real point of convergence favouring the bulls.
my feelgood feeling pre cny             holidays in most of asia is influencing my analysis. the same feeling i had prior to xmas             , my first get in point to stop at 200%.
40day RSI indicating lower lows in coming days, probably another jan16 low.


'Relative Strength Index - RSI'
The relative strength index ( RSI ) is a momentum indicator developed that compares the magnitude of recent gains and losses over a specified time period to measure speed and change of price movements.
base at just before xmas             (last 40days), eth is lokking nearing its low and see a bounce off.
RSI Primarily used to attempt to identify overbought or oversold conditions in trading.
relatively used commonly by day traders. here am using a more extreme RSI values as buy or sell signals, with RSI reading at 40.currently seem will hit lower price lows in few days, before a likely break-up towards 40% growth.
hope to hear news of more eth based live projects.

cookyjar ends with anticipation of lower price of 500-700 range in coming days
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