Happy Cold Thirsty Thursday, Traders!
Hope you find value from this post.
If you did, pls like and consider following.
Here's a trading idea.
But firstly...
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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.
==============================
After Ethereum rebound from the 50W MA (350D MA), and hit the 12MA on its way back up, it was pushed back down by its 12MA. It tried to push out from it 4 day ago but got pulled back down again.
Today, Ethereum is trying to push up and out of the 12MA's claws moving towards its 21MA.
Local Market Structure has been broken, which is a bullish move, but Ethereum Bulls must show up now.
What's next after Ethereum escapes the 12MA?
The 21MA is right above it and the Dotted Red Resistance Trend Line is too. Another hurdle for the bulls.
If Ethereum manages to push out of both its 21MA and the Dotted Red Resistance Trend Line then the RED Horizontal Resistance Bar ($3,578) is the brick wall that could push Ethereum into a retracement.
First order of business today is to escape the claws of the 12MA and have a close above it.
Stoch RSI (1Wk): Oversold Region, could cross bullish today.
RSI (1Wk): Momentum is towards the upside, it's above the 40 level and going above 50 will Ethereum to a very Bullish Territory.
Always remember to place your Stop Loss.
Price action is KING!
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, pls like and consider following.
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.
==============================
After Ethereum rebound from the 50W MA (350D MA), and hit the 12MA on its way back up, it was pushed back down by its 12MA. It tried to push out from it 4 day ago but got pulled back down again.
Today, Ethereum is trying to push up and out of the 12MA's claws moving towards its 21MA.
Local Market Structure has been broken, which is a bullish move, but Ethereum Bulls must show up now.
What's next after Ethereum escapes the 12MA?
The 21MA is right above it and the Dotted Red Resistance Trend Line is too. Another hurdle for the bulls.
If Ethereum manages to push out of both its 21MA and the Dotted Red Resistance Trend Line then the RED Horizontal Resistance Bar ($3,578) is the brick wall that could push Ethereum into a retracement.
First order of business today is to escape the claws of the 12MA and have a close above it.
Stoch RSI (1Wk): Oversold Region, could cross bullish today.
RSI (1Wk): Momentum is towards the upside, it's above the 40 level and going above 50 will Ethereum to a very Bullish Territory.
Always remember to place your Stop Loss.
Price action is KING!
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