Hi fellow traders,
On the 4H ETHUSDT chart, I am applying Elliott Wave principles to outline a potential long setup.
Price has now entered the Blue Box, which is the area where I actively look for long opportunities. Within the OG Shotgun model, the Blue Box represents a liquidity zone where multiple tools come together to provide confluence.
Rather than chasing price, I prefer to position where risk is clearly defined and reward remains asymmetric. The current structure suggests that the correction may be nearing completion, while the larger bullish trend remains intact.
Entry: current price
Stop Loss: 1747.80
Take Profit: 2908.08
If price reacts from the Blue Box, it would support continuation towards the higher timeframe targets. If price breaks below the stop level, this setup is no longer valid.
Good luck and trade safe!
On the 4H ETHUSDT chart, I am applying Elliott Wave principles to outline a potential long setup.
Price has now entered the Blue Box, which is the area where I actively look for long opportunities. Within the OG Shotgun model, the Blue Box represents a liquidity zone where multiple tools come together to provide confluence.
Rather than chasing price, I prefer to position where risk is clearly defined and reward remains asymmetric. The current structure suggests that the correction may be nearing completion, while the larger bullish trend remains intact.
Entry: current price
Stop Loss: 1747.80
Take Profit: 2908.08
If price reacts from the Blue Box, it would support continuation towards the higher timeframe targets. If price breaks below the stop level, this setup is no longer valid.
Good luck and trade safe!
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.