ETHEUR – fighting to stay in the channel
First time posting, so take with a pinch of salt.
This is how a bullish case for ETHEUR can develop as I see it.
I'm taking the peak of €794 as wave 1, which therefore makes the correction we are currently undergoing wave 2. Assuming a 1:1 fib extension, wave 3 should be hitting highs of €862 in the coming days – PROVIDED THAT we do not fall outside of the channel by more than a wick on a medium timeframe.
I believe we're making our way towards the end of an ascending triangle, so I'll be looking to buy on the breakout, which I'm calling out to be €771-774, i.e. above the double top of the correction and a touch above wave (iv) of the preceding wave 5.
For clarity, I've put fib retracement numbers on the left, and extension numbers on the right.
This is how a bullish case for ETHEUR can develop as I see it.
I'm taking the peak of €794 as wave 1, which therefore makes the correction we are currently undergoing wave 2. Assuming a 1:1 fib extension, wave 3 should be hitting highs of €862 in the coming days – PROVIDED THAT we do not fall outside of the channel by more than a wick on a medium timeframe.
I believe we're making our way towards the end of an ascending triangle, so I'll be looking to buy on the breakout, which I'm calling out to be €771-774, i.e. above the double top of the correction and a touch above wave (iv) of the preceding wave 5.
For clarity, I've put fib retracement numbers on the left, and extension numbers on the right.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.