Ethereum continues to exceed expectations. As these words are being written, Ethereum’s daily chart is sitting at the All Time High set last June. It seems highly likely to break that ATH soon. Having said that, it should come as no surprise when/if at some point shortly thereafter it comes back down to test support at that point. But assuming that support holds, this trade will likely get rather fun.
Regular readers will know I have been suggesting to readers for the past week or two that ETH is the trade to watch (see here and here) , and that has certainly been proven to be the case so far. I realize that many traders do not accept the possibility that geometry and other esoterica can be useful as a trading system. But regardless, it is still interesting to look at today’s markets through the lens of the work of some of the greats of the past. I typically use the Gann square (as developed by Eduardo Altmann) to model support and resistance. But in today’s column I will use a variety of other geometric tools to look at where price might go.