ETHUSD: ETHUSD formed bullish rally from 2480, and 2630 looks like resistance. it retraced from resistance level again, and fresh bearish rally started from here, broke 1 hr bullish trend line,
As per classic trend line breakout, looking for short setup at R: 2630 !!strong close above that price should be bullish move
*trade channel based on hourly chart.
Technical- Based on S/R and trend channel : - Resistance: 2630, bearish rally point - support: 2480
! leave feedback please.
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Trade active
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Long position at 2535, and still looking for short position at 2630.
Trade closed manually
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Need correction in trend line, price didn't trigger.
Or it could form long setup at 2535, keep watching volume with price.
Mudrex
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so what kind of targets would you suggest for a trade now? consider the volume is pretty low
abhish_analysis
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@Mudrex, considering volume is pretty low,
For long position, at support price, chances to make range.
For short position, at resistance price, it is good sign,target up to near support level.(i would suggest to keep trailing SL,most of time nearby broke)
Mudrex
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@akukiet, sounds good. let me know what you think about my tweaked RSI approach:)
abhish_analysis
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@Mudrex, it looks legit, but i'm not used to indicators (only volume).