Hello traders!
I am long ETH from around 1570.
Picture says it all, and the 2 possibilities - up or down - are marked out.
there is a chance that it makes a LL on 4hrs tf, and a clear divergence would occur; or maybe break out of the ascending triangle directly.
first structure to break is the 50 daily EMA, who stands around 1643.
If long scenario plays out, would gradually take profits at major structures, final target being 1784 (with a possibility to go out and test the trend line at 1805 (and also feel the FVG)
Take care, manage your risk,
And hit like if you like / agree with the idea.
Thanks
I am long ETH from around 1570.
Picture says it all, and the 2 possibilities - up or down - are marked out.
there is a chance that it makes a LL on 4hrs tf, and a clear divergence would occur; or maybe break out of the ascending triangle directly.
first structure to break is the 50 daily EMA, who stands around 1643.
If long scenario plays out, would gradually take profits at major structures, final target being 1784 (with a possibility to go out and test the trend line at 1805 (and also feel the FVG)
Take care, manage your risk,
And hit like if you like / agree with the idea.
Thanks
Trade active:
Trade going well so far, I think it made the LL @ 1605, if this is right, our next target is 1750.
I added more @ 1620 and moved the SL @ 1567
I added more @ 1620 and moved the SL @ 1567
Trade active:
take a look at these 2 fractals:
Comment:
retested the diagonal trendline @1620, now up to 1750
Trade active:
although it didn't break up as I expected, nothing changed in the structure.
what we don't want to see is a close below the highlighted are of 1 hour. For now is rejected, and it can be also a good entry point for others, as a double top is forming there. A very nice candle closed, showing buying pressure. if the next one is green, that's the confirmation for long. SL sits at 1632.6
what we don't want to see is a close below the highlighted are of 1 hour. For now is rejected, and it can be also a good entry point for others, as a double top is forming there. A very nice candle closed, showing buying pressure. if the next one is green, that's the confirmation for long. SL sits at 1632.6