ETH/USD POTENTIAL LONG
4H Chart:
*the 4H timeframe chart is displaying ETH breaking out of a triangle pattern that it had been holding for 5 days or so
*the momentum of the 4H candle is showing me that this break above the descending trend line and break out of the triangle is a legit momentum break
*watch and make sure price holds above that trend line and wait for buyer strength of interest after a pullback into the 275 price area
1H Chart:
*on this timeframe it had clearly displayed a strong buyer momementum break above the descending trendline
*use this chart to gauge and make sure price holds above so its not a fakeout and look for strong buyer interest on re-test of recent significant 1H structure around 275 price area
REMEMBER TO ALWAYS HAVE A TRADING PLAN WHEN APPROACHING THE MARKETS. STAY DISCPLINED WITH THE PLAN AND IMPLEMENT PROPER RISK WITH EACH TRADE SETUP. CHEERS!
LETS WATCH AND MAKE SURE IT HOLDS, WATCH FOR BUYER MOMENTUM/INTEREST TO COME IN ON RE-TEST OF STRUCTURE AND BUILD A PLAN FROM THERE IF POTENTIALLY GOING LONG!
PLEASE LIKE AND FOLLOW ME ON TRADINGVIEW FOR MORE POSTS! Thanks!
4H Chart:
*the 4H timeframe chart is displaying ETH breaking out of a triangle pattern that it had been holding for 5 days or so
*the momentum of the 4H candle is showing me that this break above the descending trend line and break out of the triangle is a legit momentum break
*watch and make sure price holds above that trend line and wait for buyer strength of interest after a pullback into the 275 price area
1H Chart:
*on this timeframe it had clearly displayed a strong buyer momementum break above the descending trendline
*use this chart to gauge and make sure price holds above so its not a fakeout and look for strong buyer interest on re-test of recent significant 1H structure around 275 price area
REMEMBER TO ALWAYS HAVE A TRADING PLAN WHEN APPROACHING THE MARKETS. STAY DISCPLINED WITH THE PLAN AND IMPLEMENT PROPER RISK WITH EACH TRADE SETUP. CHEERS!
LETS WATCH AND MAKE SURE IT HOLDS, WATCH FOR BUYER MOMENTUM/INTEREST TO COME IN ON RE-TEST OF STRUCTURE AND BUILD A PLAN FROM THERE IF POTENTIALLY GOING LONG!
PLEASE LIKE AND FOLLOW ME ON TRADINGVIEW FOR MORE POSTS! Thanks!