Hi, friends.
ETHUSD is in a wide consolidation (balance1) with a range 580-1000. Yesterday the price breaks out level 850.
Level 850 - it's very important because it is a high level of balance2 and it is a high level of ascending triangle.
So now we have buy priority and we can buy on the retest to this level.
But If false break out happens and the price will return back into the balance2 you need to close position immediately.
Trade recommendation:
entry - 851
stop - 820
target1 - 973
target2 - 998
ETHUSD is in a wide consolidation (balance1) with a range 580-1000. Yesterday the price breaks out level 850.
Level 850 - it's very important because it is a high level of balance2 and it is a high level of ascending triangle.
So now we have buy priority and we can buy on the retest to this level.
But If false break out happens and the price will return back into the balance2 you need to close position immediately.
Trade recommendation:
entry - 851
stop - 820
target1 - 973
target2 - 998
Trade closed: target reached