Welcome followers. Can your resident ETHUSD experts pick yet another winner. We certainly have another hot looking entry setting up for you. We will be focusing on the H chart but will also post the H and daily as part of this set up.
MY entry is above the previous bar at 875.
Stop loss is below previous lows at 855
Targets are just before the blue lines @ 895, 910 and 947
On the H Chart you can still see the red arrows from our last winner, if you are still in that trade chasing higher Targets you can add this position or just stay in your existing position. The blue arrows show this trade with the extension and then pullback to our level, with the dotted line being the projected next extension.
Currently on the H we can see nice cyclicity with Higher Highs and Higher lows and has pulled back to its 200 (The Green line and 50 The red line) as well as the strong black angled line on my chart. That line is a from the , and we have a small breal and retest going on. Note we haven’t closed below since we broke.
On the 4 Hour Chart you can see price has pulled back nicely testing the 50 Red line
On the you can see the long term we are attacking on the shorter Time Frames
To make dollars you decisions need to make Senses, Time frame support helps lower time frame trades.
While we have had a pullback in price we have seen tow techinal developments on the chart.
1/ The 50 EMA has crossed the 200 EMA for Bullish order.
2/ Price is bouncing off the 50 EMA
WE will continue to watch and look for buying.