Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
After breaking above 1700, ETH has been stuck inside a range in the shape of a rising channel in orange.
Moreover, the 1700 is currently acting as a strong support zone.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower orange trendline. (acting as non-horizontal support)
As per my trading style:
As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
We will remain bullish, UNLESS ETH breaks below 1700, in this case a deeper correction till around 1550 would be expected.
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
After breaking above 1700, ETH has been stuck inside a range in the shape of a rising channel in orange.
Moreover, the 1700 is currently acting as a strong support zone.
🏹 So the highlighted purple circle is a strong area to look for buy setups as it is the intersection of the blue support and lower orange trendline. (acting as non-horizontal support)
As per my trading style:
As ETH approaches the purple circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
We will remain bullish, UNLESS ETH breaks below 1700, in this case a deeper correction till around 1550 would be expected.
📚 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
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal