Greetings Swing & Day traders of crypto. Today we have an interesting structure being formed on ETH/USD.
The Head is apparent and the right shoulder is currently being created. Watch for break of neckline. Long on break of trendline , break of neckline or retest of .382. Take profit at 0.5 if conservative or .618 at structure with a stop loss below neckline. If you want to hold to .786 , set stop loss below .618 and let it all ride or take half the profit for a safer approach.
The Head is apparent and the right shoulder is currently being created. Watch for break of neckline. Long on break of trendline , break of neckline or retest of .382. Take profit at 0.5 if conservative or .618 at structure with a stop loss below neckline. If you want to hold to .786 , set stop loss below .618 and let it all ride or take half the profit for a safer approach.