Good afternoon traders,
ETH is possibly setting up an inverse head and shoulders formation suggesting a bullish move higher is on the cards.
I have highlighted a possible bullish Elliott Wave count, if ETHUSD breaks the neckline we will be looking to go long in the market looking for a swing trade.
However, keep in mind there is a pennant formation setting up so expect some resistance around the 1840 zone.
Corrective structures can become complex, so the bullish count is NOT cemented in place. We need to see a breakout of the pennant formation before we can enter a more aggressive position on a pull back.
Any thoughts or comments are welcome!
ETH is possibly setting up an inverse head and shoulders formation suggesting a bullish move higher is on the cards.
I have highlighted a possible bullish Elliott Wave count, if ETHUSD breaks the neckline we will be looking to go long in the market looking for a swing trade.
However, keep in mind there is a pennant formation setting up so expect some resistance around the 1840 zone.
Corrective structures can become complex, so the bullish count is NOT cemented in place. We need to see a breakout of the pennant formation before we can enter a more aggressive position on a pull back.
Any thoughts or comments are welcome!
Trade active:
Trade is tracking well!
We are expecting ETHUSD to continue rising.
Trade is tracking well!
We are expecting ETHUSD to continue rising.
