ETH/USD trade update:
Okay so when we look at the chart we can see that the price did break the zone of interest and is now testing the first green support that we can see on the chart.
What I am looking for now is for a reversal here. We can see that we are also close to the 0,618 level of the Fib. What could also be an important zone for us to see a reversal here.
If we do not get a reversal here we will go to the green support zone below this one. That is also a Fib level there on the bigger time frame (0,382) that was important in the past.
We can also see that the price is below all the MA’s that are on the chart. That does is bad because when we have that we have a sign that the price is bearish and not bullish.
What we can also see now is that the price now is on a Fib. Retracement on the big time frame (0,382). This retracement is from 0 to all time high. So we can say that this should be a good sign for a reversal. Because normally the bigger the time frame and price range is the more it is viewed reliable. As long as we do not get a close below that level than I am bullish for now.
I will give an update here when it is needed.
If you have any questions feel free to send me a message.
If you like the idea do not forget to give it a like and feel free so share your idea on this in the comments.
Everything you see on my profile is just for educational purposes only.
Okay so when we look at the chart we can see that the price did break the zone of interest and is now testing the first green support that we can see on the chart.
What I am looking for now is for a reversal here. We can see that we are also close to the 0,618 level of the Fib. What could also be an important zone for us to see a reversal here.
If we do not get a reversal here we will go to the green support zone below this one. That is also a Fib level there on the bigger time frame (0,382) that was important in the past.
We can also see that the price is below all the MA’s that are on the chart. That does is bad because when we have that we have a sign that the price is bearish and not bullish.
What we can also see now is that the price now is on a Fib. Retracement on the big time frame (0,382). This retracement is from 0 to all time high. So we can say that this should be a good sign for a reversal. Because normally the bigger the time frame and price range is the more it is viewed reliable. As long as we do not get a close below that level than I am bullish for now.
I will give an update here when it is needed.
If you have any questions feel free to send me a message.
If you like the idea do not forget to give it a like and feel free so share your idea on this in the comments.
Everything you see on my profile is just for educational purposes only.
Comment:
Okay when we look at the chart now we can see that the price is touching the lowest green one that is drawn up on the chart. This is the last support zone on which I think that we do can see some sort of reversal happening.
If we do get a break of that zone that I think that on the technical view of the analysis we can see a really big drop incoming then.
For now it is just waiting and see if we get a reversal here or a break of the zone.
If you want to risk it you could go long now.
If we do get a break of that zone that I think that on the technical view of the analysis we can see a really big drop incoming then.
For now it is just waiting and see if we get a reversal here or a break of the zone.
If you want to risk it you could go long now.
When we look at the chart we can see that the price did reverse and went back up when we got a touch of the support zone that we can see in green. This is what I was thinking that would happen. I did bought some more at the touch and am still holding it.
What we can see now is that the price did touch the zone of interest and did went back down a little after we touched that zone.
We can see that the price now is going back up a little and that we are back again in the zone of interest.
I am now waiting to see a break of that zone. I think that we could see a break of the zone next week.
For now:
What I am going to do now is just hold my position and wait to see it we are able to break the zone. If we do not get a break of the zone I will update you on what I will do then because if we are not able to break I got to have a look at the volumes to see why we are not break because normally we should be able now to break it.
I hope you all took this gift and bought at the drop this time.