ETH/USD (Ethereum vs. US Dollar) on a 1-hour timeframe (BITSTAMP exchange).
Key Elements in the Chart:
• Entry Zone: Marked around 2,478 - 2,513, indicating a potential sell entry area.
• Trendline: A descending trendline suggests a downtrend continuation.
• Target Area: The price is expected to move downward toward 2,319 - 2,317 as shown by the projected path.
• Current Price Level: 2,478.2 at the time of the screenshot.
Interpretation:
The setup suggests a short trade (sell position) from the entry zone, expecting the price to reject the resistance and continue downward in line with the existing bearish trend. The chart follows a trend continuation strategy, predicting a drop to the 2,319 - 2,317 support level.
Key Elements in the Chart:
• Entry Zone: Marked around 2,478 - 2,513, indicating a potential sell entry area.
• Trendline: A descending trendline suggests a downtrend continuation.
• Target Area: The price is expected to move downward toward 2,319 - 2,317 as shown by the projected path.
• Current Price Level: 2,478.2 at the time of the screenshot.
Interpretation:
The setup suggests a short trade (sell position) from the entry zone, expecting the price to reject the resistance and continue downward in line with the existing bearish trend. The chart follows a trend continuation strategy, predicting a drop to the 2,319 - 2,317 support level.
Trade closed: target reached
TARGET REACHED, 260 pips.
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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.