ETH Reverse Head and Shoulders-- LONG
I think Ethereum is ready to buck this recent downtrend on the basis of a reverse head and shoulders. We've been trading sideways for a while in a compressing pattern and until we make a confident break of this sideways action, you have to expect that we will oscillate. In addition to approaching the recent local bottom of 2280ish, this looks like a perfect opportunity to form a reverse head and shoulders and force the bears to cover their shorts.
TP1: 2630 (+9.3%) -- neckline of reverse H&S
TP2: 2830 (+17.7%) -- higher target if we breakout above the neckline
Published trade statistics:
Win Percentage: 6/7= 86%
Avg Gain on Wins: 12%
Avg Loss on Losses: -20%
Weighted Avg P/L % : 7.81%
Pending Trades (including this post): 2
- Sultan of Chart
*This is not financial advice*
TP1: 2630 (+9.3%) -- neckline of reverse H&S
TP2: 2830 (+17.7%) -- higher target if we breakout above the neckline
Published trade statistics:
Win Percentage: 6/7= 86%
Avg Gain on Wins: 12%
Avg Loss on Losses: -20%
Weighted Avg P/L % : 7.81%
Pending Trades (including this post): 2
- Sultan of Chart
*This is not financial advice*
Never let the fear of striking out get in your way.
- Sultan of Chart
- Sultan of Chart
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