Happy Thirsty Thursday, Traders!
Hope you find value from this post.
If you did, pleases give this post a like and do consider following. Thanks.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
ETH managed to push a little past its 50D MA but is right up at the Red Descending Channel Resistance.
What's Happening Next?
If ETH breaks out of this Descending Triangle then the $3040 is the immediate price target and the Blue Horizontal Bar will act as resistance where ETH could make a rendezvous with its 200D MA.
Getting rejected at the Red Descending Resistance Channel could push ETH back down towards the Green Horizontal Support Bar at around $2.4K - $2.3K
First order of business for the ETH Bulls is to stay above the 50D MA.
Stoch RSI (1Wk TF): More Upside Potential
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader
Hope you find value from this post.
If you did, pleases give this post a like and do consider following. Thanks.
Here's a trading idea.
But firstly...
==============================
Quick Disclaimer:
Trade at your own risk. This post/chart is for your reference only, it is not intended as a recommendation, nor is it an advice to sell nor buy this crypto asset, nor to place any trade.
Trading poses a risk of losing some or all of your money and it will be your responsibility if you lose money.
==============================
ETH managed to push a little past its 50D MA but is right up at the Red Descending Channel Resistance.
What's Happening Next?
If ETH breaks out of this Descending Triangle then the $3040 is the immediate price target and the Blue Horizontal Bar will act as resistance where ETH could make a rendezvous with its 200D MA.
Getting rejected at the Red Descending Resistance Channel could push ETH back down towards the Green Horizontal Support Bar at around $2.4K - $2.3K
First order of business for the ETH Bulls is to stay above the 50D MA.
Stoch RSI (1Wk TF): More Upside Potential
Price action is KING!
Always remember to place your Stop Loss.
Patience and Discipline are KEYS to a successful trade.
Trading is both a Science and an Art.
Develop an intuition and listen to your instinct while following the rules putting emotions aside.
If you have not yet developed it, you will develop this as long as you stay consistent with following
the rules. The skills will become second nature to you much like how you acquire the skill in riding a bicycle.
Soon it will be your subconscious running your trades, again, much like when riding a bicycle
the balancing is controlled by the subconscious part of your brain.
Be PERSISTENT and stay PERSISTENT.
Let me know what asset you wish for me to look at and evaluate for potential long set ups and I will post it here on TradingView.
If you found value from this post, consider giving it a like and subscribe. Furthermore, share it with someone you know will benefit from this.
More power to all your trades, my friends!
Ron
Intrepid_Trader