Hi friends! Let's take a look at Ethereum! If you recall from my last post, we were reviewing the symmetrical triangle, as price action traded into the apex. During that analysis, I gave you two price targets — each of which would have applied, depending on the direction of the symmetrical triangle breakout. During that analysis, I said "If an upside breakout occurs, ETH will probably run up the 23.6% retrace. If a break to the downside occurs, the 50% retrace should be the next stop." As you can see, an upside breakout has occurred, and ETH has gone well beyond my 23.6% retrace target. No matter how you slice it, that's a winning call. I told you to watch for the direction of the breakout, and then I gave you two solid targets. If you would have traded that, and went long ETH when it broke the top of the symmetrical triangle, LIKE I SAID, you would have recognized a 13% gain. Someone please explain to me, how that is a losing call. In a symmetrical triangle, it could break to the upside, or it could break to the downside. Given the technicals at the time, a downside breakout seemed to be the most likely scenario. However, I recognized the fact that an upside breakout was possible, and I essentially told you to react when you saw the move (in a theoretical trade.) I guess the old saying applies "you can lead a horse to water, but you can't make it drink." I led you to the water. Did you drink it?
So if you led me to this water, can I take that as financial advice? Had you led me to a stream and I got poisoned, I might not like that.
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