Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
ETH is overall bearish trading inside the brown channel and now approaching the lower trendline acting as non-horizontal support.
Moreover, the green area is a demand zone and round number 1000.0
So the highlighted purple circle is a very strong area to look for buy setups as it is the intersection of demand in green and the lower brown trendline, which I also consider an oversold area.
As per my trading style: I will be waiting for it to approach the highlighted purple circle (area) to look for possible buy setups (like a double bottom, trendline break, and so on...)
If you like the idea, do not forget to support with a like and follow.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly! ~Rich
Keeping it simple and rational. I appreciate your work!
TheSignalyst
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@mattschepp, thank you Matt! I appreciate your support!
michaelblaise7
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Do any of you folks track government announcements....charts alone wont do it....FED RESERVE talks on wednesday....raise interest .50 ethereum starts to ride anything higher down to three digits
ProjectSyndicate
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for sure we are getting oversold here, but see what we get after FED