Hello guys,
ETHUSD seems to have a better relative strength than BTCUSD, in fact I think this could be a good long entry point.
The triangle ETH has build using the 200 daily moving average as base, has been broken on the bullish side so this could justify
long trade with an only serius warning: volume is low. Nevertheless, the risk is low because stop loss must be set
under $660 area but the first target is the recent high at $838 with a first possible extension before to $900 and than to $980.
Indicators don't give us any support but due to the particular configuration of the chart, they are not so important.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
ETHUSD seems to have a better relative strength than BTCUSD, in fact I think this could be a good long entry point.
The triangle ETH has build using the 200 daily moving average as base, has been broken on the bullish side so this could justify
long trade with an only serius warning: volume is low. Nevertheless, the risk is low because stop loss must be set
under $660 area but the first target is the recent high at $838 with a first possible extension before to $900 and than to $980.
Indicators don't give us any support but due to the particular configuration of the chart, they are not so important.
***This analysis is not a buy or sell advice, it is drawn up for educational purpose only***
Trade closed: stop reached:
Stop loss triggered during the night.
It was right to follow the indication of volume, but it was also fair to try the trade with small size
It was right to follow the indication of volume, but it was also fair to try the trade with small size