ETH - Around Support AGAIN ❗️
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last ETH analysis (attached on the chart), we were looking for buy setups around the green support.
ETH is still stuck inside a big range in the shape of a flat rising broadening wedge, and it is currently retesting the lower red trendline.
Moreover, the zone 1830 is a strong support.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline.
As per my trading style:
As ETH approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📉 In parallel, if the green support zone is broken downward, expect further bearish movement till the 1730 demand zone.
Which scenario do you think is more likely to happen? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my last ETH analysis (attached on the chart), we were looking for buy setups around the green support.
ETH is still stuck inside a big range in the shape of a flat rising broadening wedge, and it is currently retesting the lower red trendline.
Moreover, the zone 1830 is a strong support.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the green support and lower red trendline.
As per my trading style:
As ETH approaches the red circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📉 In parallel, if the green support zone is broken downward, expect further bearish movement till the 1730 demand zone.
Which scenario do you think is more likely to happen? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
Trading Made Simple; and Rule-Based
RichTL.com
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instagram.com/richthesignalyst
Telegram
t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
Best Crypto Exchange
coincall.com/r/thesignalyst
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