ETHEREUM breakout, Possible ABCD pattern forming
ETHUSDOk, so ETH had a breakout at point X, the first thing what we can expect considering it's current price action is a formation of ABCD pattern with completion at around 985 area, followed by a correction towards support line. My strategy will be as follows, I'll wait until price tests supposed point D price level after that I'll will enter short with tight stops targeting support line, let's see how it goes.
Note
ABCD pattern completedTrade active
Entering shorts\l 1031
t\p 800
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.