Short

ETHEREUM breakout, Possible ABCD pattern forming

Updated

Ok, so ETH had a breakout at point X, the first thing what we can expect considering it's current price action is a formation of ABCD pattern with completion at around 985 area, followed by a correction towards support line. My strategy will be as follows, I'll wait until price tests supposed point D price level after that I'll will enter short with tight stops targeting support line, let's see how it goes.

Note

ABCD pattern completed

Trade active

Entering short
s\l 1031
t\p 800

Trade closed: stop reached

FX_CouchPotato

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.