Welcome to today's trade setup as a part of "Aglogains - Daily Trade series".
As we have seen yesterday, after breaking the previous highs at 2185 - 2200 levels, there was an explosive move to the upside on ETH yesterday, reaching almost 2400 - 2430 levels.
We have seen the market take a breather after this rally by seeing a slight sell-off causing a pullback to the previous highs that were broken.
My trade setup takes advantage of this key resistance turned support level to look for trading opportunities.
On the 3Hr chart, we see a double bottom forming followed by a bullish candle confirming our entry condition.
Entry - 2225
SL - 2083 (142 points)
TP - 2423 (198 points)
Risk to Reward - 1 : 1.4
Will keep you posted on the progress.
As we have seen yesterday, after breaking the previous highs at 2185 - 2200 levels, there was an explosive move to the upside on ETH yesterday, reaching almost 2400 - 2430 levels.
We have seen the market take a breather after this rally by seeing a slight sell-off causing a pullback to the previous highs that were broken.
My trade setup takes advantage of this key resistance turned support level to look for trading opportunities.
On the 3Hr chart, we see a double bottom forming followed by a bullish candle confirming our entry condition.
Entry - 2225
SL - 2083 (142 points)
TP - 2423 (198 points)
Risk to Reward - 1 : 1.4
Will keep you posted on the progress.
Trade closed: target reached:
We closed the trade with 200 points in profit.
