ETHUSDT Analytical review
he instrument is in a medium-term uptrend. The current market strength on a scale of zero to one hundred is 72. It is recommended to work on the long side. Locally, the price is also rising, breaking above the upper boundary of the descending channel at the level of 1620.82, which indicates a possible end to the correction and a resumption of medium-term growth. Speculatively, in the current situation, it is also recommended to work on the buy side. In the event of a false breakout, a return to the descending channel and consolidation below the level of 1620.82 may lead to speculative sales with the target near the lower boundary of the channel at 1507.82. If the price drops below and breaks the level of 1439.28, it can be said at least that the uptrend has stopped and at most that there is a medium-term reversal downward.
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Title: ETHUSDT Analytical Review Trading PlanExecutive Summary
This trading plan is based on the ETHUSDT Analytical Review. With the instrument currently in a medium-term uptrend and a market strength of 74.4, we recommend working on the long side. Locally, the price is rising, breaking above the descending channel. This document outlines our trading strategy and risk management guidelines for capitalizing on the current market situation.
Objectives
To capitalize on the medium-term uptrend in ETHUSDT
To maintain strict risk management guidelines and protect capital
To continuously monitor market conditions and adjust the trading plan accordingly
Trading Strategy
Long positions:
a. Entry Points:
Buy on breakout confirmation above the upper boundary of the descending channel at the level of 1616.73
Look for additional confirmations such as strong volume, bullish candlestick patterns, or technical indicator signals
b. Profit Targets:
First target: 1750 (approximately 8.2% gain)
Second target: 1900 (approximately 17.5% gain)
Consider trailing stop orders to lock in profits and capture potential further upside
c. Stop Loss:
Place a stop loss order at 1550 (approximately 4.1% risk) to protect capital in case of a false breakout or reversal
Short positions (speculative):
a. Entry Points:
Short if the price returns to the descending channel and consolidates below the level of 1616.73
Look for confirmations such as strong volume, bearish candlestick patterns, or technical indicator signals
b. Profit Targets:
Target near the lower boundary of the channel at 1503.74 (approximately 7% gain)
c. Stop Loss:
Place a stop loss order at 1640 (approximately 1.4% risk) to protect capital in case of a continued uptrend
Risk Management
Ensure strict adherence to stop loss orders
Risk no more than 1-2% of total capital per trade
Reassess the trading plan if the price drops below and breaks the level of 1525.81, signaling a potential medium-term reversal downward
Review and Monitoring
Monitor market conditions and adjust the trading plan accordingly
Regularly review the effectiveness of the trading strategy and risk management guidelines
Keep a trading journal to track performance and learn from past trades
By following this ETHUSDT Analytical Review Trading Plan, we aim to capitalize on the current market situation while maintaining strict risk management protocols to protect our capital. Continuously monitoring the market and adjusting our strategy will ensure we stay on top of any significant changes and maximize our potential profits.
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Title: ETHUSDT Trading Plan - March 15, 2023Objective: To capitalize on the medium-term uptrend of ETHUSDT by trading on the long side, while considering local decline tendencies and potential trend reversals.
Timeframe: Medium-term
Market Strength: 44.8/100
Primary Strategy: Long Positions
a. Focus on long positions to take advantage of the medium-term uptrend.
b. Prioritize long trades if the price returns to the ascending channel and consolidates within it.
c. Monitor the upper boundary of the channel at 1715.7; a breakthrough will indicate an acceleration of the uptrend.
Secondary Strategy: Short Positions (speculative)
a. Consider speculative short positions if the price exits the ascending channel and drops below the lower boundary at 1640.77.
b. Monitor the 1594.38 level closely; if the price drops and consolidates below this level, a medium-term trend reversal downwards is possible. Adjust trading strategy accordingly.
Risk Management
a. Set stop-loss orders according to your risk tolerance and trading strategy.
b. Regularly reassess market strength and adjust position sizing to minimize exposure to excessive risk.
c. Diversify your trading portfolio to reduce the impact of a single instrument's performance on your overall profits.
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.