1. ETHUSDT has given a breakout after a consolidation on a one hour time frame
2. the consolidation is also forming an inverted head and shoulder pattern
3. the breakout candle is forming a flag and poll pattern.
considering all the above inference, a long trade can be initiated at the current levels for targets of 1349, 1371 and 1400 with a stop loss of 1290 which would provide an overall R:R ratio of 1:2
This is for educational purposes only
#cryptolifestyle #cryptotrading #cryptos #cryptoworld #cryptocurrency #eth #ethereum
2. the consolidation is also forming an inverted head and shoulder pattern
3. the breakout candle is forming a flag and poll pattern.
considering all the above inference, a long trade can be initiated at the current levels for targets of 1349, 1371 and 1400 with a stop loss of 1290 which would provide an overall R:R ratio of 1:2
This is for educational purposes only
#cryptolifestyle #cryptotrading #cryptos #cryptoworld #cryptocurrency #eth #ethereum
Trade active:
Target 1 hit, however if Stop loss was trailed to entry price, SL would have hit.
if we haven't trailed SL, then the trade is still active from a swing trade prospective as initial stop loss is still active
if we haven't trailed SL, then the trade is still active from a swing trade prospective as initial stop loss is still active
Trade closed: stop reached