Hello Future Millionaires!
Good ol' ETH printing an ascending triangle! I'm looking for a long upon a breakout and subsequent retest of broken resistance, flipped to support.
We have strong vertical support, the 0.768 Fibonacci from the recent impulse up and the 4H 21EMA all in confluence, holding the bottom side of the range up for support, helping to protect my stop loss.
The measured move for this triangle has a target of about $435, but I suspect we may see some over-performance, so I've charted targets all the way to the 4.236 Fibonacci extension which has strong confluence with higher time frame horizontal resistance!
Keep it crypto and happy trading!
---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 600.39
Entry Zone: 591.30 - 606.00
T1: 610.50
T2: 615.00
T3: 625.00
T4: 635.00
T5: 650.00
Stop: 581.74
--
R:R: 3.09
Risk: 3.49%
Reward: 10.76%
Leverage: 10X
Leveraged Risk: 34.90%
Leveraged Reward: 107.60%
Risk Assessment: MEDIUM
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Good ol' ETH printing an ascending triangle! I'm looking for a long upon a breakout and subsequent retest of broken resistance, flipped to support.
We have strong vertical support, the 0.768 Fibonacci from the recent impulse up and the 4H 21EMA all in confluence, holding the bottom side of the range up for support, helping to protect my stop loss.
The measured move for this triangle has a target of about $435, but I suspect we may see some over-performance, so I've charted targets all the way to the 4.236 Fibonacci extension which has strong confluence with higher time frame horizontal resistance!
Keep it crypto and happy trading!
---
Guide to My Charts
-The dark magenta horizontal lines are support/resistance 'zones'. If price pierces though one side of the support/resistance zone, it is likely to head to the next support/resistance zone!
-Yellow lines are typically used to chart out pattern formations and trend lines!
-The colored lines are MAs (Red: 10SMA, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Purple: 200EMA, White: 200SMA, Maroon: 377EMA).
-Horizontal white and green lines may be Fibonacci levels. The 0.382 and the 0.618 Fibs are green and the rest are white.
-The Historical Volatility Percentile, RSI , and/or stochastics indicators are below the chart if displayed.
---
Please smash the like and comment if you find value in this post! It helps show me that others are interested and motivates me to share more with the community!
---
Entry: 600.39
Entry Zone: 591.30 - 606.00
T1: 610.50
T2: 615.00
T3: 625.00
T4: 635.00
T5: 650.00
Stop: 581.74
--
R:R: 3.09
Risk: 3.49%
Reward: 10.76%
Leverage: 10X
Leveraged Risk: 34.90%
Leveraged Reward: 107.60%
Risk Assessment: MEDIUM
---
Disclaimer:
This is not financial advice; I am not a financial adviser. This information is not meant to be used for financial advice, nor trade ideas. These posts are simply a record of my technical analysis and potential trade setup ideas.
These posts are intended for educational purposes only. It is imperative that everyone conduct their own research prior to entering any trade.
Comment:
1H-4H stochastics all pointing up, which shows short-term bullish momentum:
Comment:
Go ETH bullz!!!
T1: 610.50 - HIT!!! (16.84% gain)
T2: 615.00 - HIT!!! (24.33% gain)
T1: 610.50 - HIT!!! (16.84% gain)
T2: 615.00 - HIT!!! (24.33% gain)
Related Ideas
