Hi guys.
Observing price action on ETH, which has been insanely bullish in the last 12 hours. Hope that the fib. retracements and channels are not messing up the chart too much.
Suppose it is quite clear that we have confirmed a breakout of the inverse head and shoulders pattern, as well are playing out wave III of an Elliot wave. I hope I have implemented that correctly, if I have made a mistake, all critiques are welcome.
Nonetheless, the expected breakout targets are all near short term- immediate short term.
Take profit points: ~1700/~1800/~1900/~2000
Invalidation level would be breaking down the neckline of the pattern (bellow 1580), where should be the stop loss by my opinion, high leverage trades not recommended due to high volatility.
Not financial advice.
DYOR
Cheers!
Observing price action on ETH, which has been insanely bullish in the last 12 hours. Hope that the fib. retracements and channels are not messing up the chart too much.
Suppose it is quite clear that we have confirmed a breakout of the inverse head and shoulders pattern, as well are playing out wave III of an Elliot wave. I hope I have implemented that correctly, if I have made a mistake, all critiques are welcome.
Nonetheless, the expected breakout targets are all near short term- immediate short term.
Take profit points: ~1700/~1800/~1900/~2000
Invalidation level would be breaking down the neckline of the pattern (bellow 1580), where should be the stop loss by my opinion, high leverage trades not recommended due to high volatility.
Not financial advice.
DYOR
Cheers!