There seems to be a symmetrical triangle forming on on the ETHUSDT pair on the 1D Chart.
Potential Long Setup:
Entry: ~3500 (Wait for 1D Candle to close above the triangle and with good volume for confirmation)
Target Price (TP) 1: ~3850 ( Around the previous lower high's and below the previous resistance before the price drop)
Target Price (TP) 2: ~4000 (Previous resistance)
Stop Loss (SL): ~3400 (Slightly lower than the breakout wick)
Risk to Reward Ratio (R:R): 1:3.5
Notes:
Potential Long Setup:
Entry: ~3500 (Wait for 1D Candle to close above the triangle and with good volume for confirmation)
Target Price (TP) 1: ~3850 ( Around the previous lower high's and below the previous resistance before the price drop)
Target Price (TP) 2: ~4000 (Previous resistance)
Stop Loss (SL): ~3400 (Slightly lower than the breakout wick)
Risk to Reward Ratio (R:R): 1:3.5
Notes:
- Wait for 1D Candle close and volume confirmation.
- Keep Risk to Reward Ratio at least 1:3 or better.
- Keep trade size and leverage (if using) based on your risk tolerance and account.
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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.
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.