mongacoin

ETH long breakout trade opportunity

Long
BITFINEX:ETHUSD   Ethereum / U.S. Dollar
BITFINEX:ETHUSD
Type: Long
Entry: Break above 414
Stop: 396
Take Profit Target: 442

Rationale
- Pattern ascending triangle
- Price support so far well on 406
There is a possibility of further downside and shall wait for break of either side to enter a trade.
- RSI level showing bullish divergence

Playing a bounce for a quick 6%!
Comment: Trade is invalid, as you can see entering before the pattern forms is a bad sign. Always wait for confirmation, could have entered a short but didn't want to risk it.

Comments

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