Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
DAILY: Left Chart
After breaking below the 1820 support, ETH traded lower in an aggressive manner to finally find support around 1650.
H4: Right Chart
ETH is now stuck inside a range.
๐ For the bulls to take over again, and reject the daily support, we need an H4 momentum candle close above the last high in green around 1705
๐ In parallel, if the red low is broken downward, expect further bearish movement till the around the 1500 support to fill the wick!
For now, we wait โฑ
Which scenario do you think is more likely to happen? and why?
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DAILY: Left Chart
After breaking below the 1820 support, ETH traded lower in an aggressive manner to finally find support around 1650.
H4: Right Chart
ETH is now stuck inside a range.
๐ For the bulls to take over again, and reject the daily support, we need an H4 momentum candle close above the last high in green around 1705
๐ In parallel, if the red low is broken downward, expect further bearish movement till the around the 1500 support to fill the wick!
For now, we wait โฑ
Which scenario do you think is more likely to happen? and why?
๐ Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal