ETH Pattern fails, what now? My trades and plan

eth 7 25 daily

Monday July 25, 2016  7:00 AM

Most bullish pattern failed yesterday for ETH as we closed red. Patterns still favor more upside but chances have dropped fairly significantly and I will be reducing my position accordingly. The news about ETC is also something I’m paying attention to.

Here is a summary of my trades over the last 24 hours (also posted in real time on Twitter)

Starting position                   35% of core investment Long ETH   avg cost  approx   $10

YESTERDAY

Trade 1                            added to get to 100% core Long ETH        avg cost 12.90 – 13.30

Trade 2                            added to get to 120% core Long ETH       avg cost  12.35

Trade 3                            sold 20% back down to 100% long ETH  avg sale price  $13.35

TODAY

Trade 1                          sold 5% to get to 95% long ETH      avg sale price   $13.35

CURRENT POSITION

95% long core allowance ETH

I’ve written many times about the guideline that I want to be able to sleep at night trading money I can afford to lose.  Not sure how much ETH I’ll be selling today but I can share the two keys to making my decisions:

  1. What do the patterns say?
  2. How well can I sleep tonight

Will update trades as I make them as best I can. Also more on ETC coming soon.

PS with all the big moves I was making yesterday forgot to update that I sold my small Steem position a day or two ago for a small gain at about .0059 BTC.

NOTE: NOTHING IN MY POSTS IS INTENDED TO BE TRADING ADVICE. Please do not base your trades on any information presented in the materials on this blog as it is for information and entertainment purposes only. You are 100% responsible for your own trading decisions.

 

 

 

 

 

 

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