ETHUSD watching another formation
! Not financial advice but someone sharing his trading diary! - Make your own plans and you will do fine in the long run.
I am watching this possible formation. Wave counts /volume signature match sofar - Keep in mind this is in a daily timeframe - Remember that this formation is only confirmed if there is a breakout with volume above average / Increase in Open Interest, otherwise this setup might be invalid.
- At the moment only scalps from daily /weekly levels or aggressive longs/shorts at the top /bottom of the formation.
Longs between 1781 - 1853 with stop loss below previous Higher low.
Targets from 1933 / 2049 / moon.
Shorts below 1700 ('1670 safest) with stop loss above previous lower high
Targets 1540 / 1394 / 1259
I would take 50% at TP1 and move SL to entry in each case.
* Trading level by level and Risking 1% of the account *
#eth #ethusd #technicalanalysis #chart # trading #idea
I am watching this possible formation. Wave counts /volume signature match sofar - Keep in mind this is in a daily timeframe - Remember that this formation is only confirmed if there is a breakout with volume above average / Increase in Open Interest, otherwise this setup might be invalid.
- At the moment only scalps from daily /weekly levels or aggressive longs/shorts at the top /bottom of the formation.
Longs between 1781 - 1853 with stop loss below previous Higher low.
Targets from 1933 / 2049 / moon.
Shorts below 1700 ('1670 safest) with stop loss above previous lower high
Targets 1540 / 1394 / 1259
I would take 50% at TP1 and move SL to entry in each case.
* Trading level by level and Risking 1% of the account *
#eth #ethusd #technicalanalysis #chart # trading #idea
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