ETH/USD - Short to Bottom of Descending Broadening Wedge -
Hello Future Millionaires!
ETH is ranging in a descending broadening wedge. If the bulls do not have the strength to breakout, then I'm targeting a move to the bottom side of the descending wedge.
If we break below support at $360, then I'll be targeting a move down to the 0.236 around $343.
If we close below support at $343, then I'll my next target is around $315.
Please leave a like to show your support. Thank you and best of luck!
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Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance lines.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier lines are typically smaller time frame trends (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 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 (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
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Entry: 390.05000000
Entry Zone: 397.40-386.812
T1: 386.25
T2: 383.60
T3: 380.45
T4: 378.15
T5: 373.50
T6: 372.00
T7: 368.75
T8: 365.75
T9: 362.00
Stop: 399.38368879
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R:R: 3.01
Risk: 2.39%
Reward: 7.19%
Leverage: 10X
Leveraged Risk: 23.9%
Leveraged Reward: 71.9%
Risk Assessment: HIGH
---
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 trade ideas and are intended for educational purposes only.
It is imperative that everyone conduct their own, independence, research prior to entering any trade.
ETH is ranging in a descending broadening wedge. If the bulls do not have the strength to breakout, then I'm targeting a move to the bottom side of the descending wedge.
If we break below support at $360, then I'll be targeting a move down to the 0.236 around $343.
If we close below support at $343, then I'll my next target is around $315.
Please leave a like to show your support. Thank you and best of luck!
---
Guide to My Charts
-The horizontal purple boxes of peace and prosperity are support/resistance 'zones'. If price pierces through one side, then it is likely to head toward the next support/resistance zone or line.
-The purple lines are support/resistance lines.
-Yellow lines are typically used to chart out pattern formations on the daily and higher time frames. Skinnier lines are typically smaller time frame trends (like 4H and 1H).
-The colored lines are MAs (Red: 10 simple, Yellow: 21EMA, Green: 55EMA, Blue: 89EMA, Grey: 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 (HVP), RSI, and/or stochastics indicators are below the chart if displayed.
---
Entry: 390.05000000
Entry Zone: 397.40-386.812
T1: 386.25
T2: 383.60
T3: 380.45
T4: 378.15
T5: 373.50
T6: 372.00
T7: 368.75
T8: 365.75
T9: 362.00
Stop: 399.38368879
--
R:R: 3.01
Risk: 2.39%
Reward: 7.19%
Leverage: 10X
Leveraged Risk: 23.9%
Leveraged Reward: 71.9%
Risk Assessment: HIGH
---
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 trade ideas and are intended for educational purposes only.
It is imperative that everyone conduct their own, independence, research prior to entering any trade.
Comment:
Here is the TA for the descending wedge breakout!
Comment:
Follow us now for regular technical analysis on the hottest cryptos!
Comment:
It appears I charted the wedge on another time frame. Here is the updated chart with measured moves!
If we breakdown from this triangle, then $340 and $362 are looking like great areas to take profit!
Have a great day!
If we breakdown from this triangle, then $340 and $362 are looking like great areas to take profit!
Have a great day!
Comment:
Well, every trade cant't be a grand slam. Stopped at breakeven after hitting target 1.
T1: 386.25 - HIT!!! (9.74% Gain)
T1: 386.25 - HIT!!! (9.74% Gain)
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