ETH/USD.1D CHART PATTERN.I'm looking at a long trade idea on ETH/USD with the following structure:
Buy Entry: $2,740
Target 1: $3,320
Target 2: $4,000
Here's a breakdown of the trade setup and key considerations:
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📈 Trade Summary
Parameter Value
Entry $2,740
Target 1 $3,320
Target 2 $4,000
Potential Upside (to T1) ~21.2%
Potential Upside (to T2) ~46%
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🔍 Technical Considerations
Before entering, consider:
1. Support at $2,740:
Check if this level aligns with major moving averages (e.g., 100/200-day) or prior demand zones.
2. Resistance Zones:
Around $3,320: Watch for profit-taking pressure or horizontal resistance.
$4,000: Likely a strong psychological and technical barrier.
3. Volume Confirmation:
Look for rising volume or breakout candles to confirm momentum.
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⚠ Risk Management
Stop Loss: Consider placing it below recent support (e.g., ~$2,600 or tighter, depending on strategy).
Position Sizing: Use a % of your portfolio that fits your risk tolerance (e.g., risking 1–2% per trade).
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✅ Example Risk/Reward (R:R)
To Target 1:
Risking $140 (Stop at $2,600), Gain of $580 → R:R ~4.1:1
To Target 2:
Gain of $1,260 → R:R ~9:1
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