long ETHUSD
I mentioned the wedge breakout a few days ago.
This might be a AB=CD move
Often there is a reaction (up or down) at the half way point; 870
Target is 1087 on this move.
I lean to the upside in part because of the touch and rapid retracement of price to the CD line a few hours ago
An entry now would require a large stop below the spike low at 800
Risk is 60USD
reward is 227
R:R ratio 3.78
so position size is important
This might be a AB=CD move
Often there is a reaction (up or down) at the half way point; 870
Target is 1087 on this move.
I lean to the upside in part because of the touch and rapid retracement of price to the CD line a few hours ago
An entry now would require a large stop below the spike low at 800
Risk is 60USD
reward is 227
R:R ratio 3.78
so position size is important
Note
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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.