ETHUSDT Price channel, resistance levels LONG
This idea is based on a price channel and resistance levels. The price has now reached the level of resistance which is also at the bottom of the price channel plus it's a Gold Ratio of the drop compared to the growth since July 2021 measured with Fib retracement tool
I have shown the possible s/l below 75% of retracement and t/p which can be realised at the shown resistance level as 50%-75% with remaining capital withheld as the ETH/USDT price could reach level of 8k which is measured with trend based fib extension.
It's advisable to wait for the price action at lovel time intervals for the entry and protecting the capital with quantified amount of a loss which won't break the bank, this is not a trading advise btw it's just an idea :)
I have shown the possible s/l below 75% of retracement and t/p which can be realised at the shown resistance level as 50%-75% with remaining capital withheld as the ETH/USDT price could reach level of 8k which is measured with trend based fib extension.
It's advisable to wait for the price action at lovel time intervals for the entry and protecting the capital with quantified amount of a loss which won't break the bank, this is not a trading advise btw it's just an idea :)
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.