Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart), ETH rejected the upper bound of the flat rising broadening wedge in orange and traded lower.
Now ETH is sitting around the lower bound / orange trendline.
Moreover, the blue zone is a strong support.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline.
As per my trading style:
As ETH is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Meanwhile, ETH can still dive inside the support zone again or break it downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my last analysis (attached on the chart), ETH rejected the upper bound of the flat rising broadening wedge in orange and traded lower.
Now ETH is sitting around the lower bound / orange trendline.
Moreover, the blue zone is a strong support.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower red trendline.
As per my trading style:
As ETH is sitting around the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Meanwhile, ETH can still dive inside the support zone again or break it downward.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich