ETH looking to confirm a move down

9 May 2018

This ETH trend line is holding up. Once we break this trendline and $700 area as support we can expect a move down to 600.

At 600 I will be playing a bounce play. Key, word, bounce play. I will be looking for a move back up to 650-700.

At 600 we have:

key support
EMA's and MA's converging,
50 FIB

we should get some support from there.

This will probably take a few days to manifest, but we should get a solid bounce if we get there.

Happy Trading,

Sherem

Last call we made money on -

9 May 2018

Not

And as always if you like this idea, let me know!

11 May 2018

Not

Broke the trendline, further confirmation is when we break $700

11 May 2018

Not

Still waiting for 600. to much risk right now to enter. My buy will be just above 600 right around 605-610.

This thing is going to bounce around this 700 area, don't be surprised if we go up around 700-710. before moving down again

12 May 2018

Not

Target is still 600, buy order in at 605. Looks like we are just forming a bear flag before moving down again.

13 May 2018

Not

New update: