Ethereum is correlated to Bitcoin therefore it's trend has been melting. This will be short-term as cryptocurrency prices and implementation are heading to the moon. Especially Ethereum. If you look through the chart you'll se some key pieces of knowledge. The fibonacci is placed every time that a L.H is being created on a downtrend (countertrend). It determines...
This was a setup that could have been an add in to a (4H) setup. Nonetheless, we see that the market broke structure, created its first HH and HL. It then made a new HH. With the Fibonacci retracement tool, we measure the previous Hl to the HH on the Uptrend to measure where price could find support on its new H.L. (Higher Low) Confluence on the 38.2 level on the...
As you can see on the chart, UJ has been on a textbook Uptrend creating higher highs and higher lows on the 4 hour chart. The lower timeframes add up to the higher timeframes and you can see a transition to an uptrend on the (1H) chart. The indicators used are the average exponential moving average and simple moving average. Exhaustion areas (Wick Areas) are an...
