Hello TradingView Community,
This post outlines a potential long trade setup for the Ethereum / U.S. Dollar (ETHUSD) pair, based on the 15-minute timeframe.
Technical Analysis:
The chart shows a key horizontal price level at approximately $4,141.59. This level has been a significant pivot point, acting as both support and, more recently, resistance.
After a sharp move down, the price has shown considerable strength by breaking back above this level, which is a bullish signal indicating that buyers may be regaining control. The trading idea is based on a classic "break and retest" pattern. The price is currently consolidating on top of this former resistance zone. The expectation is that this level will now act as new support, providing a solid base for a potential move higher.
Trade Setup:
The long position tool on the chart visualizes a potential trade plan for this bullish scenario:
Entry: Approximately $4,141.59 (at the retest of the new support).
Stop Loss: $4,054.84 (placed below the key support structure to invalidate the idea if the level fails to hold).
Take Profit: $4,392.28 (targeting a new potential higher high).
This setup provides a structured plan with a favorable risk-to-reward ratio for a potential continuation of the bullish momentum.
Disclaimer: This analysis is for educational and discussion purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk. Please conduct your own due diligence and manage your risk appropriately.
This post outlines a potential long trade setup for the Ethereum / U.S. Dollar (ETHUSD) pair, based on the 15-minute timeframe.
Technical Analysis:
The chart shows a key horizontal price level at approximately $4,141.59. This level has been a significant pivot point, acting as both support and, more recently, resistance.
After a sharp move down, the price has shown considerable strength by breaking back above this level, which is a bullish signal indicating that buyers may be regaining control. The trading idea is based on a classic "break and retest" pattern. The price is currently consolidating on top of this former resistance zone. The expectation is that this level will now act as new support, providing a solid base for a potential move higher.
Trade Setup:
The long position tool on the chart visualizes a potential trade plan for this bullish scenario:
Entry: Approximately $4,141.59 (at the retest of the new support).
Stop Loss: $4,054.84 (placed below the key support structure to invalidate the idea if the level fails to hold).
Take Profit: $4,392.28 (targeting a new potential higher high).
This setup provides a structured plan with a favorable risk-to-reward ratio for a potential continuation of the bullish momentum.
Disclaimer: This analysis is for educational and discussion purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk. Please conduct your own due diligence and manage your risk appropriately.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.