ETH/USD
I want to use Ethereum to make a couple of points. If I were to add up the composite results of every trade I have made over the years that were not confirmed by a simple moving average, the figure would be negative – a big negative. By contrast, most of my large gains over the years have come from trades supported by a simple MA.
The entire advance in $ETH from early Nov 2017 through the Jan 2018 high was supported by a simple MA. Similarly, the entire decline from the late Jan 2018 high to the present has been supported by a simple MA (additionally, classical charting principles have flashed no fewer than four sell signals beginning on Feb 1).
I have no desire as a trader to pick tops and bottoms. I am very comfortable making my living between the 30-yard lines – and almost all trades between the 30-yard lines are confirmed by a simple MA. As such, the idea of considering a long position in ETH at present levels is completely foreign to me.
