ETH Analysis 2024/09/06
BINANCE:ETHUSDT
Notice: The points are only valid from 2024/09/06 to 2024/09/26
What we have now?
1.The key support and resistances level:
2820
2600
2400
2305
2110
What should we do?
1. For Future traders
Open the long position when the price fails to break through the lower support level
TP when the price is close to upper resistance level or TP 50% of your position first, the other 50% for a huge breakout.
SL when the price break through the lower support level and -5% ROI of your asset
Open the short position when the price fails to break through the upper resistance level
TP when the price is close to lower support level or TP 50% of your position first, the other 50% for a huge breakout.
SL when the price break through the upper resistance level and -5% ROI of your asset
When should we close the positions?
8 hours trend is much easier to catch than 24 hours trend, better close it as long as it reach to the support and resistance level.
2. Spot trader
The approach of spot traders is similar to the one mentioned above.
3. Holder
Forget everything I said.
Always put a Stop Loss for your positions!! Trade safe!
