ETHUSD has been consolidating for a while and I don't think its over yet, but there looks like a small intraday opportunity to go long for anyone who likes to get in and out of the market quickly.
Look for a pullback to enter this setup for a better RR if it fits your strategy. Target is a simple -.27 extension of first impulse.
**Disclaimer** This setup is best suited for experienced traders so invest wisely and do your due diligence.
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Keep an eye out for this possibility. It looks like we might get a 5th wave on the 1 hour timeframe, before the pullback for the bigger move.
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Target Reached. Ethereum had a bit more strength than I expected and never developed the full pullback I was looking for. However, price has reached the -.270 extension and there's a strong chance we will see a deeper correction now.