Unlock Hidden Profits: Pro-Level ETH/USD Price Action TechniquesBITSTAMP:ETHUSD @Alexgoldhunter Price Action Analysis and Strategy
Key Levels and Zones
Order Blocks (OB):
Upper OB: Around 4,020 USD
Lower OB: Around 3,830 USD
Break of Structure (BOS):
BOS Level: Around 3,830 USD
Change of Character (CHoCH):
CHoCH Level: Around 15th, 16th, and 17th of the month
Fibonacci Retracement Levels:
0.786 Level: 3,984.661 USD
0.705 Level: 3,962.3925 USD
0.618 Level: 3,952.993 USD
0.5 Level: 3,930.75 USD
0.382 Level: 3,908.507 USD
Fair Value Gap (FVG):
FVG Level: Around 3,830 USD
Volume Profile:
High volume areas around key levels, indicating strong interest and potential support/resistance.
Buy Strategy
Entry Point:
Consider entering a buy position near the lower OB around 3,830 USD, especially if the price shows signs of reversal or bullish candlestick patterns.
Stop Loss:
Place a stop loss below the lower OB, around 3,800 USD, to limit potential losses.
Take Profit:
Target the upper OB around 4,020 USD or the Fibonacci levels for potential profit-taking.
Sell Strategy
Entry Point:
Consider entering a sell position near the upper OB around 4,020 USD, especially if the price shows signs of reversal or bearish candlestick patterns.
Stop Loss:
Place a stop loss above the upper OB, around 4,050 USD, to limit potential losses.
Take Profit:
Target the lower OB around 3,830 USD or the Fibonacci levels for potential profit-taking.
Conclusion
By using these price action techniques, traders can develop a strategic approach to buying and selling based on key levels and market structure. Remember to always manage risk with appropriate stop loss and take profit levels.
Happy trading! 📈📉
If you have any more questions or need further details, feel free to ask!
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