Hi, friends.
A coin ETC have a hardfork tomorrow. So it would be interesting what to expect.
First - ETC is in big main balance with a range 32-43. Last week we saw a false break down of this balance - good bull signal.
Second - inside this main balance we also see a mini-balance with a range 33.30-37.35 (green rectangle). And there is a false break down of this mini-balance too. So now we must waiting a confirmation - break out after false break down.
Trade recommendation:
Entry point: 34.85 (Buy stop)
Stop-loss: 32.55
Target1: 37.35
Target2: 41.5
Target3: 43
Glossary of terms
A coin ETC have a hardfork tomorrow. So it would be interesting what to expect.
First - ETC is in big main balance with a range 32-43. Last week we saw a false break down of this balance - good bull signal.
Second - inside this main balance we also see a mini-balance with a range 33.30-37.35 (green rectangle). And there is a false break down of this mini-balance too. So now we must waiting a confirmation - break out after false break down.
Trade recommendation:
Entry point: 34.85 (Buy stop)
Stop-loss: 32.55
Target1: 37.35
Target2: 41.5
Target3: 43
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.