Sunday June 12, 2016 9:15 AM
ETH appears to be breaking out this morning on huge volume and price is at $15.15.
I continue to hold 50% of my core position as the patterns over the last few days showed a big move but with more liklihood of a downward result. Now an upward result appears to be beginning. You can never predict with 100% certainty. Just play the probabilities.
I will be watching closely from here to decide if I should further reduce my position. I will not tolerate a lot of downside here. On the other hand if price and volume continue to provide a strong confirmation of this upmove I might add back some of my core position. You never want to chase an investment but if the indicators and patterns show significant upside, you also don’t want to be afraid to take advantage of it.
I have absolutely no regrets selling what I’ve sold so far, and would not be the least bit surprised if we see a reversal soon on ETH.
That said, the target has always been 17.50-20.00 and it may go straight up to that target from here.
Time toavoid hasty decisions. Better to watch and react when the patterns and indicators give clear guidance.
