ETHUSD LONG TRADE:based on current market structure.

Dec 5

3-hour Ethereum (ETH/USD) chart, here's a technical analysis of the current situation and potential future movements:

## 📈 Current Market Structure

The chart shows that ETH/USD was in a **downtrend channel** (indicated by the two parallel blue lines).

* **Initial Breakout:** The price attempted a breakout from the descending channel around November 4th, but after a strong move up, it failed to sustain and fell back into the channel, highlighted by the first red ellipse.
* **Second Breakout:** Crucially, the price executed a second, more sustainable **BREAKOUT** from the descending channel around December 2nd. This suggests a **potential trend reversal** from bearish to bullish, or at least a significant pullback.
* **Current Price:** The price is currently around **\$3,178.7**.

## 🎯 Key Areas and Price Targets

The analysis utilizes concepts like **Fair Value Gaps (FVG)** and **Target Prices (TP)**.
### 1. Fair Value Gaps (FVG)

FVGs are ranges where the market was inefficient and may act as areas the price is drawn back to.

* **Lower FVG (Support):** Located roughly between **\$2,850 and \$3,000**. The analysis suggests a potential move down to this area to "fill the gap" before a strong upward continuation (indicated by the large red curved line). This FVG acts as a crucial **support zone**.
* **Upper FVG (Resistance/Continuation):** Located roughly between **\$3,200 and \$3,350**. The price is currently sitting near the bottom of this FVG. A clear move through and above this area is required for the bullish target to be met.

### 2. Potential Price Action (The Red Path)

The most likely scenario depicted by the red curved line suggests the following:

1. **Pullback/Correction:** The price moves down from its current level, potentially to **re-test the broken channel trendline** and fill the **Lower FVG** (around \$2,850 - \$3,000).
2. **Impulse Move Up:** After finding support in the FVG, the price begins a strong **impulse move** upward.
3. **Target 1 (TP1):** The price aims for the level around **\$3,400**. This aligns with the top of the Upper FVG and a previous resistance/support level.
4. **Target 2 (TP2):** If TP1 is broken, the final target is set at the level around **\$3,650 - \$3,700**, which is a significant previous swing high.

## 💡 Summary of Trade Idea

The chart presents a **bullish outlook** following the channel breakout, but it anticipates a **pre-move correction** to secure a better entry.

* **Entry Zone:** The **Lower FVG** (around **\$2,850 - \$3,000**) provides the most optimal, high-probability entry for a long position.
* **Confirmation:** A failure to hold above the breakout trendline or a sustained move below the Lower FVG would **invalidate** the current bullish structure.

Would you like me to look at a longer timeframe chart for ETH/USD to see the macro-trend context?

5 days ago

Trade active

GREAT! Our first tp hit guys .collect half Profit and set BE.