ETHPROS_TPG8CJ.USD trade ideas
ETHUSD Supply n demand pattern formation on ETH on a 4hr timeframe ! Target should be around 1040$ !
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🔹I'm not an financial analyst! I'm sharing this with public! It just learning purpose only!
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🔹incase of BTC crash ! This chart is invalid !
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ETH Price Action Analysis - Hourly Time FrameThis is merely a trend analysis post. ETH has broken out of a range and is edging higher. Till now, we have been selling at the range top and buying at the range bottom. As there is a change in the market structure from range to uptrend, we can draw an upward moving channel as a guide to initiate high probability trades.
If the channel continues to hold, following rules can be followed to maximize your results:
Usually, you want to avoid trading the breakout of the upper trendline of the channel.
Avoid missing out on buying opportunities near the lower trendline. Ride your long winners as the price can continue to move higher with the trend inertia.
Selling near the upper trendline should be done either with lower quantity of for a shorter term quick scalp basis.
Short Position below 1200. Aggressive short below 1175. Sideways market on hourly/mins time frame. Looking to short the range breakout below 1200 and further if the price reaches to 1175. Would stop looking for shorting opportunities if price goes above 1250. Till then, just try to follow the channel resistance.
ETH Range Bound Mean Reverting TradeETH Has been trading a range of 1000-1250 and looks to continue that until a major event/stimulus.
Currently at the upper end of the channel, a short side trade can be initiated with the target of 1000/
View invalid if ETH breaks upper edge of channel towards 1300.