I've entered a long trade around $3,720 following a significant retracement into the order block (OB) zone, supported by a confluence of moving averages indicating bullish momentum.
🎯 Target: $4,495 — aiming for a breakout toward higher liquidity zones above recent resistance levels.
🔻 Stop Loss: $3,513 — placed strategically below the key structural support to mitigate downside risk.
🛠Rationale:
Price tapped into a previously unmitigated order block, showing signs of demand.
Bullish Market Structure Shift (MSS) identified on higher timeframes.
Favorable Risk-to-Reward Ratio (R/R).
Let's see if ETH can continue the bullish momentum into the end of the week!
🎯 Target: $4,495 — aiming for a breakout toward higher liquidity zones above recent resistance levels.
🔻 Stop Loss: $3,513 — placed strategically below the key structural support to mitigate downside risk.
🛠Rationale:
Price tapped into a previously unmitigated order block, showing signs of demand.
Bullish Market Structure Shift (MSS) identified on higher timeframes.
Favorable Risk-to-Reward Ratio (R/R).
Let's see if ETH can continue the bullish momentum into the end of the week!
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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.