ETHPROS_TPG8CJ.USD trade ideas
Ethereum Elliott Wave - Recent fall is confirmation of uptrendElliott wave analysis of Ethereum confirms its 3rd wave journey pattern.
Wave 1 - Finished at 4384.43 on May 12, 2021
Wave 2 - Finished at 1718.41 on July 20, 2021
Wave 3 - Sub-Wave 1 - Wave 1 - Finished at 4030.35 on Sep 3, 2021
Sub Wave 1 - Wave 2 - Finished at 2651 on Sep 21, 2021
Sub Wave 1 - Wave 3 - Sub-wave 1 - Finished at 4867.81 on Nov 10, 2021
Sub Wave 1 - Wave 3 - Sub-wave 1 - Finished at 3575 on Dec 4, 2021
Ethereum still holding strong after crack in BTCEven after a considerable flush in Bitcoin prices, we see Ethereum holding the line very strongly. This was quite surprising and reassuring to ETH holders.
1. The long term trendline is still intact.
2. Nice wick at Bull market support band in weekly chart
3. Retest of the previous resistance of $3970 in weekly chart after breakout
4. Support at 200 day moving average
Horn bottom patternLink below in description of my previous educational information on Horn bottom and Horn top pattern.
In that chart, I was not able show the example for horn bottom, clearly. In this chart, you can find horn bottom pattern, where 'H" shape candle pattern is formed with a week difference. More information about how to trade the pattern, provided on chart.
Kindly do your analysis before initiating trade.
#ETHUSD @4444 - Bouncing inside Darvas Box 4562/3924. Watch out #ETHUSD @4444 - Bouncing inside Darvas Box 4562/3924. Watch out for CLOSE abv 4562
Breakout post 4562 opens up 4865 and beyond into a new trajectory
Extremely strong Floor 3924
Sensible approach - enter on Daily IC-MC DAILY BO retest
Entry @4184
Stoploss @4020
Target 4440
Risk : Reward 1: 1.625
POWER OF TRENDLINE It seem very difficult to understand but it is very very simple
FIRST TRADE
I am watching the price for very long time and found that it respecting beautifully a trend line once the breakout of
TRENDLINE with strong bullish candle near 200 MA which the second confirmation for my trade
VERY IMPORTANT
I RIDE THE TREND WITH THE HELP OF 21 SMA UNTIL IT CROSS BACK DOWN . THE 21 SMA IS NOT FIX U CAN USE
5,10,21,50,100,200 FOR TRAILING STOPLOSS
SECOND TRADE
when the price break the TRENDLINE that the price made and price also close below 21 SMA
NOW MY SL IS 21 SMA
TARGET 200 SMA
KEEP LEARNING FROM UR STOPLOSS