ETH looking ripe for a long
Good day traders
- We have had a nice bullish movement for ETH and it is now showing some weakness - which is good news since we can long cheaper
- ETH broke a falling wedge pattern and has now entered a slightly descending channel
- Rejection at the top if the channel around 234 mark
- Expecting a small correction to 225 (200 EMA) and even 222 (un-testested break of resistance) which is a good place to long on the bounce
- This is a slightly risky trade. Would not recommend more than 2-3% of capital on this one.
Entry Zone: 222 - 225
TP 1: 234
TP 2: 241
TP 3: 250 (leave a runner for this one)
Stop Loss: 214
Potential Profits: 40%-65% at 10x with a buy-in at 225
Lets see how this plays out.
Please support my ideas with your likes. It motivates me to generate more content on this platform.
The above idea is for educational purpose only and your leveraged position should be restricted to max amount you are willing to lose.
Trade safe!
- We have had a nice bullish movement for ETH and it is now showing some weakness - which is good news since we can long cheaper
- ETH broke a falling wedge pattern and has now entered a slightly descending channel
- Rejection at the top if the channel around 234 mark
- Expecting a small correction to 225 (200 EMA) and even 222 (un-testested break of resistance) which is a good place to long on the bounce
- This is a slightly risky trade. Would not recommend more than 2-3% of capital on this one.
Entry Zone: 222 - 225
TP 1: 234
TP 2: 241
TP 3: 250 (leave a runner for this one)
Stop Loss: 214
Potential Profits: 40%-65% at 10x with a buy-in at 225
Lets see how this plays out.
Please support my ideas with your likes. It motivates me to generate more content on this platform.
The above idea is for educational purpose only and your leveraged position should be restricted to max amount you are willing to lose.
Trade safe!
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