Trade Recommendation: Ethereum Entry Level | Hacked: Hacking Finance
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Trade Recommendation: Ethereum Entry Level

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Trade Recommendation: Ethereum Entry Level

Introduction

This article was posted on Tuesday, 13:33, UTC.

Ethereum gives us a new trading opportunity. Based on the daily chart we can see that the price came back higher than 200.00 support level and broke the downtrend line which was a barrier for possible upward movement. Passing through this zone the market confirms that it’s going to move upward. Also a new swing low is higher than the previous one. It’s a signal that probably the downward movement is over and we should expect for the up trend continuation. If so, we must be ready for buying and it’s time to think about the best entry levels.

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The high of the current bullish candle gives us a possible entry level. We can use pending orders for entry at 227.00 level or buy from the market when price moves above this level. Stop orders must be placed below the local swing low which is lower than 200.00 support level and the uptrend line. Profit targets must be near 300.00 and 400.00 resistance levels. If you want to buy more safely, wait for a moment when the price breaks 240.00 resistance level. After getting confirmation that the market passes through this resistance, you should buy with the same stop and profit-target levels. The trading volume for this long position can be up to 10% from your deposit and if you don’t use leverage. The final volume should depend on how many markets you trade. Also you have to know that not all trading signals can be profitable. That’s why we must pay attention to proper risk management and diversification in order to make stable profit in long term.    

Buy: 227.00
Stop: 176.00
Profit Targets: 298.50 and 398.50

The trading signal is based on Poloniex chart.  

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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Dmitriy Lavrov

Dmitriy Lavrov

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

Comments
  • user

    AUTHOR Maddycurrupt

    Posted on 4:13 pm August 1, 2017.

    Nice profit targets.
    Lets see

  • user

    AUTHOR [email protected]

    Posted on 9:20 pm August 1, 2017.

    Awesome info,, right to the point!!!,, love it,
    ThankX

  • user

    AUTHOR Chris G

    Posted on 10:44 pm August 1, 2017.

    alright, just bought 20 ETH at 227 … let’s do this thing!

    • user

      AUTHOR xuxien

      Posted on 10:41 am August 2, 2017.

      me too Chris, let s see what is going on!

    • user

      AUTHOR fredthai

      Posted on 7:13 am August 3, 2017.

      Bought also at 227 …But we are now at 218 ???

      • user

        AUTHOR Dmitriy Lavrov

        Posted on 11:22 am August 3, 2017.

        It was a breakout signal. Price can retrace after breakout the important level or the previous swing high or low. But this trading signal is based on the idea that we expect to see upward movement and such retracements won’t be deep.

        • user

          AUTHOR Chris G

          Posted on 3:59 pm August 3, 2017.

          Yeah, it teased a break-out at 227 and retracted a bit – I’m bullish on ETH in general, and am patient in terms of waiting for another breakout above the resistance level. Sim. situation with LTC as well …

  • user

    AUTHOR embersburnbrightly

    Posted on 1:35 pm August 2, 2017.

    I also really appreciate the succinct and specific breakdowns at the end of these recommendations:

    Buy: 227.00
    Stop: 176.00
    Profit Targets: 298.50 and 398.50

    Thank you for these!

  • user

    AUTHOR Skampoe

    Posted on 5:03 pm August 3, 2017.

    Thanks for sharing. Good post

    Just bougt 10 ETH too, lets hope for a nice ride up! 🙂

  • user

    AUTHOR fermera_dany

    Posted on 7:57 pm August 3, 2017.

    Really thank you for this share and this levels. I am watching closely on ETH today. How it reached the 227 and how it went down a little after that. It is climbing again, hope to break it soon.

    I personally think to wait for 228 or 228+ and then enter .. In order to be sure that it broke the level for sure, but this is 100% based on your recommendation, so thanks again.

  • user

    AUTHOR fermera_dany

    Posted on 8:28 pm August 3, 2017.

    Can I, please, ask a newbie questions for kraken here?

    If I post the “Limit” BUY order in Kraken to 228 USD (or EUR equivalent) and it did not happend for 10-15-20 days or so…
    Then, will I be charged from kraken.com for the period that the order was staying open overnights?

    Also in order to STOP on profit level:
    I shall post the same (amount of ETH) “SELL” limit order at the price that I want to stop, correct?

    Thank you in advance for your time to ask or for any useful links that you might provide.

    • user

      AUTHOR Dmitriy Lavrov

      Posted on 10:57 pm August 4, 2017.

      As for possible fees from Kraken, it’s better to read their trading terms. I’m not sure in it. And about type of orders, you can use limit for entry based on your price. For exit you will have to sell the same volume.

    • user

      AUTHOR FirewoodTime

      Posted on 5:45 am August 6, 2017.

      no. I trade on Kraken all the time. I set it and run my business rarely looking. Sometimes it takes 10 days for something to drop in so I can buy low….I love Kraken except like today when people are using margin like crazy. I use margin too and when they are running out, our orders get canceled till they free up…..

  • user

    AUTHOR Inverstor Clouseau

    Posted on 9:09 pm August 8, 2017.

    Great call, if only I saw this earlier…

  • View Comments (16) ...
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