The Ascending Triangle and the Pennant both are considered as a bullish chart patterns that mainly forms during an uptrend as a sign of continuation in a trend. Buy orders should set on break out signals, above 760 level and stop orders below the bottom lines of the patterns at 650 level. Overall the markets are looking overbought and it is recommended to buy when the market is going to retrace. If the price breaks below of these patterns, then further downward movement is expected. Be careful and always remember to use stop-loss order in your trades!
Trading Information Buy: Above 760 Partial Profit Target 802.94 & 825.67 Main profit targets: 855.05 & 1000 Stop Loss: 650
My previous trading ideas of Ethereum can be found from my trading view account and some of them are still active. (Long term trades as they are) So feel free to check them out!
Things to Remember:
Stop-loss orders are strongly recommended.
Beware of buying tops or FOMOS, you might end up losing or waiting long periods of time before getting anything back.
Do your homework before investing.
DISCLAIMER: Please be aware I am providing this trading information for your benefit and insight to my trading strategies. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing anything.
Need help or you have a question related to this trading idea? Please, feel free to leave them down below in to the comments.
Yarr!
Trade active
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Breaking upwards:)!
Comment
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Update on ETHUSD: Reached our Partial profit target and target number two. Yet to be reached is longer term target which is close to 1k. Congratulations whoever took this trade. :) Hopefully you took some profit! :)
what is your advice by this point ETH pushing the 860 line? buy or keep off and wait for the drop ?? because i am not sure if this will keep going towards 1000+ ?
MisterBurkes
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Excellent analysis!
pitchup
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great advice, thanks for taking the time to teach.
mayneminu
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Man I love your charts. Keep up the fantastic work.
OkanSimsek
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If you could only choose between ltc and eth right now which one would you chose?
Amit26
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@OkanSimsek, I would choose ETH. Although LTC went up significantly recently and although I missed it and I regret it, but I will still put my money in ETH at the moment. There is a lot of momentum behind ETH right now. The most popular experts here on TradingView are recommending ETH, we are expecting ETH to cross at least $1100 very soon.
JulCan
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@OkanSimsek, I'm not an expert so please take what I say with a grain of salt but, it looks like ETH was ahead fo LTC on the bounce by a few hours so you may wantlook for ETH to find resistance and retrace and jump into LTC for a few hours then get back to ETH.