Nov 30 ETH ETHEREUM Next Target 1 $620, Possible Target 2 $765

in bitcoin •  7 years ago  (edited)

Remember I'm a price action day-trader and time lines are irrelevant to me. I don't ever estimate time frames.

We see a beautiful 5 wave zigzag run up.

We see ABC correction done for this first subwave 1.

Here are targets and logic:

Here is the risk to reward I worked out.

eth rr.png

Here's my public record of all charts with risk to reward ratios I've shared with the public. I don't share all my trades. I personally take many losses myself, but I don't share those RR/charts with public because they're too risky. I only share the low risk, high reward yields, that I always take myself as well:

Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don't understand this, and expect only to having winning trades, will always lose money over time.

Twitter - https://twitter.com/PhilakoneCrypto
https://www.youtube.com/user/philakone1

If you enjoyed this video, please like, subscribe, follow, share, upvote, on YouTube, Twitter, Steemit. If you specially liked it, please donate Tequila to Luna's cryptocurrency fund.

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The ultimate goal is to help the crypto community because I think there's a lack of these type of videos. I want to share everything I've learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

I'm not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I'm simply stating my opinions and what I personally look for. Those that follow my trades blindly and don't understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we've entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren't made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.

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  ·  7 years ago (edited)

Thanks for sharing.
You made me look into crypto from an entirely different angle. I was completely ignoring this, as I always thought chart analysis is basically non-sense. (it is - if you missinterpret).

“What gets us into trouble is not what we don't know. It's what we know for sure that just ain't so.”
― Mark Twain

i'm glad it's changing your perspective. please see my public record of all charts with RR i post and it will change your mind even further. this blog is constantly updated.

I know your track record. I didn't just stumble upon this now.
I've been following you on youtube for the past few weeks and quite recently on steemit (checked your content before I had an account here).

But it's not just your track record. It's the way you present your analysis.

Tbh, out of selfishness, at first I didn't like how long your videos were of the analysis, but as I got used to watching them - I realized how great they are. You don't just do them to show/prove. You take your time to actually teach!

Your videos could easily be sold as lessons on Udemy or something like that.

i really appreciate the kind words. They're designed to help all traders at all levels. i wish you success and profit always <3

Did you know that a lot of people claim that the quote you mentioned is wrongly attributed to Mark Twain but apparently never said such thing?.

I love the quote though.

I did not know that. Do you know who said it though?
First time I heard it was on "Big Short".

Thank you so much. I have been a miner and holder since 2010. Never tought of trading as a strategy game, it's really fun and one makse money on the way. Whats not to love?

Thanks again, man!

yes i agree with you but the target is 500 USD

Hey Phil, thanks for sharing. One thing i am not understanding - you are presenting longer term trades here yet most of your videos etc shows you scalping throughout the day - so i am wondering - are the trades here ones that you just do not want to commit to a timeframe on because you know you will get called out and howled down if they miss - or are you still scalping within these as well i.e. using a seperate pile of cash to jump in and out for small gains for beer money ??

Craig

If you had watched any of my videos or my twitter, i state clearly that I take every single one of my trade setups I talk about, tweet about, and make videos on, in addition to scalping them as well.

And it's not beer money. My scalping gains is substantial. Educate yourself before making stupid comments that just offend me in addition to everything else you've said.

Sorry it was not mean to offend i was being dead serious and trying to understand how these longer term trades you are presenting fit within the overall scalping that you perform and demonstrate on your YT videos. I did not believe i said anything offensive - i have watched all of your YT videos and follow you on twitter and on here - hence the question.

I think you need to calm down a bit after the fiasco from Bitfinex the other day you are coming across a lot more highly strung and volatile.

Thanks for taking the time to answer though

Craig

I'll do whatever I please craig :)

@philakonecrypto We miss you. Is everything OK?