As many have noticed, we broke down from a major rising wedge yesterday on Ethereum. That along with the loss in bull momentum could mean we will have a similar outcome as shown in the fractal here.
Note
ETH testing the 4hr 50EMA for the third time now. Needs to remain above it to stay short term bullish.Trade active
And there we go! Dropped perfectly as predicted, very nice 10% trade from entry. This has hit my first TP at $139.Note
Update on Fractal idea, although the drop can usually be predicted from historic patterns as shown in this idea, the correction and descent rarely matches to a previous fractal therefore I would not rely on this to trade.Trade closed: target reached
Trade closed.TP 1: $125
TP 2: $121
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.
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.