High Probability Entry on ETH/USD Based on Psychological Levels
In this technical analysis I will continue my previous idea based on psychological support and resistance trading.
After many successful confirmations of the $380 and the $400 level, I suggest another trade set-up with good risk reward.
In this case, we can use a LONG position after a confirmation the $380 level. If this level gets confirmed again as support, we can try to safely trade towards the $400 level.
For the stop loss I would place it slightly below where the previous wicks have brought us whenever the price went below $380, so probably around $375.
For the take profit, it's best to place it slightly below a psychological resistance, so say $399.
All of this combined gives you a nice risk-reward set-up with a high probability entry. Enjoy!
See my previous idea for a longer and more in-depth explanation on how these psychological support and resistance levels work. It got featured by Tradingview as the top analysis for the week:
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
After many successful confirmations of the $380 and the $400 level, I suggest another trade set-up with good risk reward.
In this case, we can use a LONG position after a confirmation the $380 level. If this level gets confirmed again as support, we can try to safely trade towards the $400 level.
For the stop loss I would place it slightly below where the previous wicks have brought us whenever the price went below $380, so probably around $375.
For the take profit, it's best to place it slightly below a psychological resistance, so say $399.
All of this combined gives you a nice risk-reward set-up with a high probability entry. Enjoy!
See my previous idea for a longer and more in-depth explanation on how these psychological support and resistance levels work. It got featured by Tradingview as the top analysis for the week:
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
Nota
What a great success once again! That one wick might have stopped you out, but I hope you survived that. Overall the price behavior did seem reasonably predictable using psychological levels.In my next idea I will continue this concept:
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
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.
Thảo luận về những biến động và nói cùng nhau về thị trường giao dịch ở cộng đồng Telegram này nhé!
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
t.me/Vietnam100eyes
(bắt đầu từ tháng 2 - 2023)
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.