Hi!
In last few days I saw a little decline on
ETHUSD
so I jumped right into the charts to find a long opportunity.
There is one beautiful confluence of support levels at 42.0.
1. Fibo 72.8
2. middle of rotation
I would love to see the price move to at least 61.0. For conservative traders place your PTs at 100.0 fibo => 51.0.
In last few days I saw a little decline on
ETHUSD
so I jumped right into the charts to find a long opportunity. There is one beautiful confluence of support levels at 42.0.
1. Fibo 72.8
2. middle of rotation
I would love to see the price move to at least 61.0. For conservative traders place your PTs at 100.0 fibo => 51.0.
Trade active:
Here we are, trade is active now. Switching to 4H TF to look for further clues.
Trade closed: target reached
We are at very critical zone right now.
On 1D TF have a look at the "doji" candle from 17.3.2017 and the following candle. ETH moved within this range until false breakout 24.3. and second false breakout at 29.3.
After such false breakout it is usual to go down and retest the middle of the range.
Which the price already did near our entry point. If the price succeed to close and hold below this middle of the range we can go muuch lower to the bottom.