ETHUSD reversed strongly and is heading towards resistance at about 2830.
Opportunities:
1. if long stay long and look to take profit at resistance. If we break through its an oppurtinity to re-long into the next price level, which should settle between 2800 - 3600
2. Look to build a short position in the "Short zone" with a tight stop above 2830
3. If you...
Daily forming raising wedge on low volume. Simple setup here - if it breaks up we will see continuation of the up trend, a break down will see reversal. In both cases volume will confirm direction. Expect this formation to resolve by Friday 25th May. Current position is long.
ETHUSD Looks like it may be breaking a daily down-trend from the 6th, however the break is on low volume. This could be the start of a new bullish trend but will need volume to confirm.
