Eth help up very well at support & Rejected my highlighted zone which sets up for a Long Position for me.
If you were to add the 200 EMA, ETH did break it yesterday, now thats not always bad news...if you take a look back at the chart you will see that it bounced back strong multiple times. Now the few times that it did break it (The 200 EMA) it still recovered nicely.
So my thought process tells me that this set up is less risky than trying to play the 200 EMA bounce trade. I did highlight a zone around the $230 level, in case we do fail to turn to the upside.
So keep that in mind, hope you enjoyed.
Thumbs up & comments are always appreciated.
If you were to add the 200 EMA, ETH did break it yesterday, now thats not always bad news...if you take a look back at the chart you will see that it bounced back strong multiple times. Now the few times that it did break it (The 200 EMA) it still recovered nicely.
So my thought process tells me that this set up is less risky than trying to play the 200 EMA bounce trade. I did highlight a zone around the $230 level, in case we do fail to turn to the upside.
So keep that in mind, hope you enjoyed.
Thumbs up & comments are always appreciated.