MACD is indicating that the price wants to break upwards and also this is a great opportunity to open longer term trades. The price has to break top line of the Symmetrical Triangle Pattern to confirm upward movement. This is why buy orders should be set above resistance line (not visible in chart) at 369 level. If the price does not reach to our buy orders, then orders should be cancelled and wait for another buy opportunity. Patience is the key.
Educational Part
How to get target via this pattern?
Draw vertically a line from the highest point of the pattern next to the lowest point. The line we just draw gives us the length of the target.
Move this line to the break out point. Where the price has breached top line of the pattern. Where this line ends is giving pointers where the price might be heading to.
In this trade it's around 390 level.
Tadah!
Also... My trading idea series of "How To Trade" is available for Ethereum as well. I recommend you to check this trading idea too. It's giving pointers where the price is heading in longer term perspective!
Trading information:
Buy: above 369 level
Target: Around 390 level
Stop-loss: 357 level
Things to remember:
It's better to wait than to regret. This is important when you are doing long term investments! Knowledge behind of your trades gives you success, more often!
Any questions or need help? Feel free to leave comments and feedback!
Yarr!
Educational Part
How to get target via this pattern?
Draw vertically a line from the highest point of the pattern next to the lowest point. The line we just draw gives us the length of the target.
Move this line to the break out point. Where the price has breached top line of the pattern. Where this line ends is giving pointers where the price might be heading to.
In this trade it's around 390 level.
Tadah!
Also... My trading idea series of "How To Trade" is available for Ethereum as well. I recommend you to check this trading idea too. It's giving pointers where the price is heading in longer term perspective!
Trading information:
Buy: above 369 level
Target: Around 390 level
Stop-loss: 357 level
Things to remember:
- To trade safely we need to use stop losses in case something goes wrong.
- Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement.
- Always be aware of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!
It's better to wait than to regret. This is important when you are doing long term investments! Knowledge behind of your trades gives you success, more often!
Any questions or need help? Feel free to leave comments and feedback!
Yarr!
Trade active
Trade closed: target reached:
100% reached :)
Next targets can be found at here