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.
