So Etherium just topped at the resistance level previous stabilished around 328, so this is a bad time to get in, but as we can see at the daily chart things are looking positive so the tide is on favor for a positive movement.
Yet we just topped and if you look at smaller time frames all indicators point for a intraday readjustment, so would be smart to buy near the support level(green lime) when the indicators start to show a reversal.
Buying nearby the support line would give you a small down side and it would allow you to still get out with profits in case it fails to break the red resistance of 328.
In case the resistance is broken and the ascending triangle pattern is confirmed, we can set a sell target at 340 and if you have nerves 350.
My backtesting of ascending triangles with crypto with more than 100 trades shows a possibility of 65% of reaching that sell target in case the breakout is confirmed.
Breakout entry tip: buy above the highest of the first candle that the lowest and highest closes completely above the red resistance line at 328. Completely above means completely above, it means that even if the lowest is still under the breakoutlevel (328) I'd keep out, trust me this will make this trade fail proof.
Don't be stupid like me yesterday on ripple buying near the resistance level and praying because indicators looked good (took a 3% loss). Play safe, win always.
Yet we just topped and if you look at smaller time frames all indicators point for a intraday readjustment, so would be smart to buy near the support level(green lime) when the indicators start to show a reversal.
Buying nearby the support line would give you a small down side and it would allow you to still get out with profits in case it fails to break the red resistance of 328.
In case the resistance is broken and the ascending triangle pattern is confirmed, we can set a sell target at 340 and if you have nerves 350.
My backtesting of ascending triangles with crypto with more than 100 trades shows a possibility of 65% of reaching that sell target in case the breakout is confirmed.
Breakout entry tip: buy above the highest of the first candle that the lowest and highest closes completely above the red resistance line at 328. Completely above means completely above, it means that even if the lowest is still under the breakoutlevel (328) I'd keep out, trust me this will make this trade fail proof.
Don't be stupid like me yesterday on ripple buying near the resistance level and praying because indicators looked good (took a 3% loss). Play safe, win always.