ETH/USD update
ETH has reached its volatility implied low and should be bouncing from here. If it manages to overcome resistance of 13 and 89 days WMAs (blue and brown respectively) and close above $289 on the daily basis it will continue to a minimum of $337.
Otherwise, rejection by any of the main WMA's will imply another test of 34 weeks WMA (white dotted) currently $224
https://www.mql5.com/en/charts/7654814/ethusd-d1-fxopen-investments-inc
Thank you for this update!
literally a few dollars short of closing above that 89 D WMA. why srezz, whyyyyy lol
Lol
Hey Srezz, Do you have a formula you use for implied volatility, along with inputs, that you could share to determine these targets? Thanks for all of these, just trying to catch up a bit so I can do some of this on my own. lol
It's not just a formula. It's trendline/break-line drawing technique developed by Tom DeMark
https://www.amazon.com/New-Science-Technical-Analysis/dp/0471035483
Thank you. I'll read through it. Most of what I had previously found by googling for the info were various methods, most pertaining to options, which didnt seem to fit this type of trading, so hopefully this clarifies the techniques involved. Thanks again.
that's an expensive frickin' book!!!