broken the bulish trend and retested the flipzone also EMA14.
TP 1 2 and 3 are FIB 121.4% , 138.2%
taking high SL because possible upcoming head and sholders pattern.
going short with patience
stoploss to breakeven after TP1
1-after The Weekly trend was respected
2-it started a Bullish trend Daily
3- after the first wave it formed a second wave
on 0.38 FIB level this formed a impulsive 1to2 wave on Daily
4-after 0.38 was tested price came back and broke
Ema 8-14-24-34 and retested the EMA on Daily charts
5-Potential flipzone at the RED line
this 1. and 2. wave shows me a impulsive...
1 overall trend Bullish Daily
2. support becomes resistance Daily
3. support at 0.78 line Daily
4. after testing resistance the 4H chart makes HH and LH
5. All the EMA are broken and retested now at 4H charts
I go for long
M resistance is Monthly
We have a lot of buy confirmation until now.
-EMA55 tested twice this week and closed above.
-the 2 rejection candles this week.
-overall bullish trend
-Fib 0.38 level tested twice wich shows next level will be 1.61 and beyond.
If the resistance breaks (red line) we will buy more.
ETH tested several times EMA55 line and
continued Bullish trend.
the first correction (BLEU LINE) tested 55EMA +
an important Fibo level wich showed us a nice buy signal
until extential level 138.2%.
now again it tested the 55EMA
and again the important Fibo level.
we see also a Bearish trap on 1H charts.
now I am going long until 138.2% level wich...
trendline broken + retest resistance and previous trendline shows me an opportunity for short + RSI and EMA 21 ,31 confirms the situation.
Also a kind of Head and sholders pattern shows a bearish upcoming.