ETH/USD 8 hour - Spoiled for choice for once

I've been extremely active today due to the current nature of the market. Here we have another possible opportunity to get in on the upside. I'm stalking a move to the upside providing all the rules are met when this 8 hour candle closes. Once again we're seeing the price pull back to the 61.8% fib level. I don't base my trades off the higher time frames off fibs, they just assist me on assessing how far the price has moved and where it currently sits. As I trade predominately off pull backs, it's crucial for me that I'm entirely conscious of this.

By using the 8 hour as our trigger, we have a trending and converging higher time frame. My only reservation about this trend is on the daily time frame. That spike on the 15th of October has left a sour taste on the charts for me.

It's important to remember, that although we are seeing a lot of opportunities that it's important to only select the best. Ensure you minimise and manage your risk where you feel best fits.

If you're interesting in learning the methods I use, head over to tradercobb.com

Peace, and remain patient.