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ETH Rejects Towards Our Target! Ethereum Crypto TAIn this idea, I'm going to cover the main support/resistance levels for ETH, as well as the calls from my Wave Fusion indicator and where I think we're going from here! As you can see from the chart above, Wave Fusion called the sell on ETH perfectly (blood moon) on the 1h chart and called the relief bounce (moon symbol) as well. We had ETH in a horizontal channel and once it broke out, it started heading towards our target of 1229. Now we can see a downwards trend as formed (red diagonal line) that's been rejected multiple times. The current resistance for ETH is now between that downward trend line and the bottom of the horizontal resistance channel (1260-1270). If we can break above these levels, I strongly belief we can reach the top of the channel at 1300 and will be well on our way to the top resistance of 1367. If we reject at those levels, my target will still stand at 1229. If we break below that, then unfortunately my next target is 1150 (strong support). If you have any questions about my TA or the indicators I use, please comment below or send me a DM :)
Short
by CryptoScripts
3
FUN/USDT - The importance of the POCPOC or Point of Control is a critical level highlighted by the Volume Profile tool available on TradingView. It highlights the level at which most volume has been traded: be that buying or selling. What I look for when using the POC is it matching the midline - found at the exact halfway from the Entry and the Stop Loss of the setup. On my charts, the midline is usually drawn in yellow but in this precise case, you almost can't see it because the POC is over it! This is exacly what we want to see. Textbook and I thought it would be worth a share. To keep in mind, this is a second look at a setup on FUN/USDT which previously failed. Take care, Vlad The Crypto Trader
Education
by Be_Independent_Tribe
TNT/BTC LONG - How fractals will help you increase your RHey everyone! Due to the fact that we have a finite amount of capital, trade selection becomes key. What trade should we enter if we're following 5 setups that comply with our trading strategy? All five with the same size? - but doesn't each setup have it's own timeframe and Risk-Reward-Ratio? That's where it starts getting more tricky. The beast that we are confronting here is the idea of opportunity cost - capital allocation into any endeavor carries such a cost because there is a risk of our analysis being less than optimal. And that's alright (if you don't punish yourself too harshly on the randomness of trading). That's why I decided to share this setup on TNT/BTC with the intent of demonstrating this fact. As you can see, the setup is currently active from the biggest price structure and pending to trigger a fractal on a shorter timeframe. This is great news, fractal patterns generally occur when our assessment of the main trend is correct, however let's go back to the main point here: having missed the main entry, the setup can still give us opportunities to ride the wave until the initial take profit, such as in this case. But note, we are entering the market at a later stage, which leaves us less time in the market and with a greater Risk-Reward-Ratio if we take the entry and stop loss of the fractal setup (which is a setup by itself with take profit at 1040 sats) while taking the take profit level of the main setup. In this instance, this approach adds 2R to your capital whilst diminishing the time you are in the market! Marvelous and worthy to keep in mind for next time. Take care, Vlad The Crypto Trader
TLong
by Be_Independent_Tribe
1