I take you through specifically what I'm seeing on the ETHUSD 8 hour chart.
We have an uptrending chart coupled with MACD convergence. I'm looking for a continuation of trend here, and seeing if I can find any entries.
The price has passed through the 61.8% fib level, but we do have a double cluster around that range. What I'm looking to see is if we have a bounce. Fib's solidfy trends for me on the higher time frames and I rarely base my entries around them.
Anyway, we still have some time till the candle closes, so I'm still playing the waiting game, but wanted to get a video to explain what I'm seeing.
I hope you enjoyed this.
Peace.
We have an uptrending chart coupled with MACD convergence. I'm looking for a continuation of trend here, and seeing if I can find any entries.
The price has passed through the 61.8% fib level, but we do have a double cluster around that range. What I'm looking to see is if we have a bounce. Fib's solidfy trends for me on the higher time frames and I rarely base my entries around them.
Anyway, we still have some time till the candle closes, so I'm still playing the waiting game, but wanted to get a video to explain what I'm seeing.
I hope you enjoyed this.
Peace.
Trade closed: stop reached:
You win and lose. This trade was a loser. I'll be updating and reviewing this trade tomorrow.