ETHBTC 4HR Falling Wedge Pattern Forming.
Updated
Although not ready for entry, we have a nice Falling Wedge pattern forming on the ETHBTC 4HR charts.
Based on the pattern we can expect a move of ~0.005959 from breakpoint, multipled by 0.62 (62% chance of reaching target)
and we get a basic trade plan of:
Entry: After bar closes beyond pattern(risky), or after a full bar has opened and closed beyond the pattern (fully confirmed)
TP: ~0.00369518 from the breakpoint
SL: last swing low, currently at ~0.0316 but likely to change before pattern breaks and confirms.
Pattern info: thepatternsite.com/fallwedge.html
Based on the pattern we can expect a move of ~0.005959 from breakpoint, multipled by 0.62 (62% chance of reaching target)
and we get a basic trade plan of:
Entry: After bar closes beyond pattern(risky), or after a full bar has opened and closed beyond the pattern (fully confirmed)
TP: ~0.00369518 from the breakpoint
SL: last swing low, currently at ~0.0316 but likely to change before pattern breaks and confirms.
Pattern info: thepatternsite.com/fallwedge.html
Order cancelled
Broke through bottom due to bitcoins recent rise. Moving on to next setup.
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