Falling wedge and descending triangle - you choose!
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Right now, we are trading within two structures for ethereum (pretty clean too if i may add):
1. Descending triangle (red trend line + yellow support line) - This structure has yet to be broken yet, but has been dancing on support the last day or so. If it can't muster the strength to rise on up from support, I will be tracking the second structure, which is:
2. Falling wedge - As you can see, ethereum has clearly been trading within this large consolidation pattern. If the descending triangle is broken, I will look for it to find support at the bottom line of the falling wedge.
My approach: - If it bounces at the support of the falling wedge, my attention will then shift back to the descending triangle, to see if the re-test of the breakdown confirms the move. If it gets rejected at the re-test of the first structure we talked about, and breaks the support of the second structure, I will be trading the descending triangle breakdown. If however it breaks back into structure one during the re-test, I will likely be waiting for a break (or rejection) of the falling wedge structure.
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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.