On daily price is in sellers territory. We got a nice pullback to the Resistance Level 0.04907743 level and we turned many people into buyers. On trading time frame the recent buyer is taken away by the seller with lots of energy and the price shows that it can't make a HH as it leaves a probe or spike. This is a conservative entry and proper Risk Management needs to be taken. As we are correlating with BTC as BTC is on Bulls run and so, ETH has a weakness.
Entry: 0.04863
TP: 0.0.042823
Stop loss: 0.0.0557986
Position Size: 1% Risk on your capital/3225.87
Risk/Reward: 1:33 So, Proper RR is maintained.
If TP is hit then we will be at 13% profit.
Buy from Sellers and Sell from Buyers.
Trade active:
Book 50% of your profits. As we are facing Resistance at 0.0455160
Trade closed: target reached:
TP hit and we can have a little push down and that depends on the BTC strength, as of now buyers are struggling WRT to BTC.