ETHUSD: Short setup under bearish trend
ETHUSD: ETHUSD is following minor bearish trend line (be with trend),
and 2550 works as resistance level, where fresh bear rally started,
third higher low after respecting trend line. so i would wait
for another touch at resistance or trend line.
Looking for short setup at 2550 at new resistance.
! Strong close above that could be bullish move.
*trade channel based on hourly chart.
Technical- Based on S/R and trend channel :
- Minor resistance: 2550, look for short setup.
- Minor support: 2410, (short target)
- Strong support: 2321
! leave feedback please.
Image-
and 2550 works as resistance level, where fresh bear rally started,
third higher low after respecting trend line. so i would wait
for another touch at resistance or trend line.
Looking for short setup at 2550 at new resistance.
! Strong close above that could be bullish move.
*trade channel based on hourly chart.
Technical- Based on S/R and trend channel :
- Minor resistance: 2550, look for short setup.
- Minor support: 2410, (short target)
- Strong support: 2321
! leave feedback please.
Image-
Trade active
Huge accumulation at minor support, price triggered.Trade closed manually
Stop reached, at 22:15 on 16th June. But due to randomness, i wasn't sure when it'll cross classically, then 21:15 on 17th June, support became resistance and price respected resistance nicely.
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Related publications
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.