ETHUSD.P trade ideas
Ethereum - Demand ZoneAfter plenty of destruction in crypto ETH now reaches a critical support zone.
Watch to see what it does around 1985/1950.
IF it breaks below 1900 there is going to be a whole world of pain in the crypto space.
If it bounces for now could get a short term bounce.
It has broken the long term channel already, needs to reclaim the same and only then can there be any bullishness in the space.
ETHUSD SELLETHEREUM/USD continues its bearish trend creating lower lows and lower highs and it may not start an uptrend as long as a news comes out such as Tesla accepting bitcoins or other cryptos. BTCUSD and ETHUSD continue to move in the same way therefore if the price of BTCUSD increases, the price of ETHUSD will increase too.
The candle seems to close below the support level with huge momentum/volume which may mean that sellers may take impulse entries till 2000ish as it is a psychological level before a retest to its support forming lower high before continuing down till the next 4 hour key level i.e. 1930.
ETHUSD Critical time ETH USD
Need to survive above the trend lines
and move higher along with RSI oversold as it happens
in near term.
Violent trend line breakdown with volume could
lead to crash.
It do or die for ETH USD.
Consolidation must happen on or around the Trend line along
with oversold if it happens.
ETH Head & Shoulder Pattern TA target $2059.65Eth is forming a Head and Shoulder pattern and it breakout already.
Testing the Horizontal green line was the confirmation, the technical target is $2059.65 but there is falling support line according to that I thing target is around $2155.46.
I show a Bearish Divergence ( Between Blue Vertical line).
Comment down your opinion about this pattern.
Intraday Buy!XABCD pattern is valid above B point, risky traders can buy at CMP or wait for it to cross B and first target is 0.886 level i.e. 2520
pennent waiting for break out and retest.once break out and retest happens you can expect a 60 pip move.
Possibility of visiting last trend lineThere is a possibilty of ethereum visiting last ATH.
consolidation above support = bearish
ETHUSD: A brief look at the things to come
Ethereum price is hovering inside a supply zone ($2,529 to $2,588), struggling to breach past it.
Two possibilities are possible here - a bullish spike that pushes ETH price above the said supply zone and proceeds to tackle the range high at $2,993.
Or a rejection at the supply zone that drags it down to the buy zone ($1,992 to $2,208).
If the bullish scenario plays out, Ethereum price could collect liquidity from the pocket highlighted in the chart ($2,850 to $2,915) and trend lower before actually proceeding higher
On the other hand, if the bearish scenario evolves, ETH price could slide into the demand zone, sweep $2,208 or $2,100. This would be followed by a flip of the supply zone into a demand zone and a retest of the swing high at $2,993.
In case, $2,993 is flipped into a support level, Ethereum price could rally and tag $3,124 and $3,316.
As always,
Leave your thoughts in the comments!
Feedback or questions are appreciated.
DYOR
Not Financial Advice (FA)
sell side ethusdHello guys i had find this setup which is made a double top in 4h timeframe and also broken trendline and we get a confirmation also we can sell with the sl above resistant which i mentioned and tg near support and plzz before opening any position plzz do your own analysis if you like my analysis do like share and follow thank you
ETH/USD updateFacing resitance on the current levels, upside will only come after resistance breakout, otherwise its going down if it breaks the trend line below.
Ethereum : looks eager to resume upwardsEthereum is holding on to its daily trend, eager to resume bull run after the skies are clear, one of the largest ETH outflow from Coinbase happened today
Ascending Triangle Chart Pattern (Continuation Pattern)An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
Important Points to look at -
The trendlines of a triangle need to run along at least two swing highs and two swing lows.
Ascending triangles are considered a continuation pattern, as the price will typically breakout of the triangle in the price direction prevailing before the triangle. Although, this won't always occur. A breakout in any direction is noteworthy.
Increasing volume helps to confirm the breakout, as it shows rising interest as the price moves out of the pattern.
A minimum of two swing highs and two swing lows are required to form the ascending triangle's trendlines. But, a greater number of trendline touches tends to produce more reliable trading results. Since the trendlines are converging on one another, if the price continues to move within a triangle for multiple swings the price action becomes more coiled, likely leading to a stronger eventual breakout.
A triangle is a type of consolidation, and therefore volume tends to contract during an ascending triangle. As mentioned, traders look for volume to increase on a breakout, as this helps confirm the price is likely to keep heading in the breakout direction. If the price breaks out on low volume, that is a warning sign that the breakout lacks strength. This could mean the price will move back into the pattern. This is called a false breakout.
$ = Liquidity
Price making LL ans Rsi making HLHere price is going down making LL and RSI making HL. So there is a divergence and price pushes up
EthereumTriangle pattern had been observed on 4 hour ethereum charts.
Entery point - anywhere below $2,800
Target - $3,700
Ethereum had been consolidating inside a fixed range for a while now, this is a potential breakout. If the target hits, there is more potential since it will be above many important moving averages, and EIP1559 will start burning token from 15july, these all signs indicate that Ethereum is currently undervalued mainly because of media FUD, but charts and data shows that long term investors and big players had been accumulating more and more ethereum during this dip.
Eth Wyckoff AccumulationEth has just played off a classic Wyckoff accumulation pattern. I had followed this ever since the secondary test, and the spring and LPS has played off since then. Sharing it to reach a wider audience. Thanks to uncomplication on YouTube for introducing me to Wyckoff patterns!
Creating Lines with ShortcutsCreating lines on a chart is one of the most fundamental methods of charting when performing technical analysis . Being able to create these effectively and quickly is a very useful skill to have.
Horizontal, Vertical and Cross lines can all be found on the drawings panel to the left of the chart in the subgroup “Trend Line Tools”. These tools can be added by selecting them from the subgroup and then placing them on the chart.
However, a more efficient method to creating these lines is to utilize the hotkey functions:
Horizontal Line Shortcut:
- Alt+H (PC), or Option+H (MAC)
Vertical Line Hotkey:
- Alt+V (PC), or Option+V (MAC)
Cross Line Hotkey:
- Alt+C (PC), or Option+C (MAC)
Becoming more efficient in your ability to draw lines on your chart will allow for quicker identification of areas of support/resistance and times on your chart.
Be sure to visit our help center to learn more about these tools!
More information on the Horizontal Line tool:
www.tradingview.com
More information on the Vertical Line tool:
www.tradingview.com
More information on the Cross Line tool:
www.tradingview.com
Divergence Masterclass 2 - Bullish divergenceIn the last thread, we discussed the basics of divergence. In this thread, we are going to learn about the positive divergence a.k.a Bullish divergence. I'll cover it in 3 parts:
1. What is bullish divergence?
2. Types of bullish divergence
3. Subtypes with illustrations
So, let's move ahead!
What is Bullish divergence?
A bullish divergence occurs when prices fall to a new low while the oscillator fails to reach a new low. It indicates that the selling pressure is decreasing and the bulls may soon control the market. Generally, a bullish divergence occurs at the end of a downtrend.
Bullish divergence is mainly of 2 types:
1. Classic bullish divergence – In this case, the price and the oscillator always either forms a lower low or an equal low. Considering these cases, the classic divergence consists of 3 subtypes. The classic divergence occurs at the end of a bearish trend and indicates that a trend reversal may occur soon.
2. Hidden bullish divergence – In this, the price forms a higher low, but the oscillator forms a lower low. Hidden divergence occurs during the correction phase of a trend and is a possible sign for a trend continuation.
So, combining all the above cases, there are only 4 types of Bullish divergence. You don’t have to memorize the names, it’s just a waste of time. Try to understand the underlying logic.
1. Strong Bullish Divergence.
The price makes a lower low but the oscillator makes a higher low. This means that the sellers are not selling at the same momentum i.e. the selling momentum is decreasing.
Price: Lower Low(LL)
Oscillator: Higher Low(HL)
2. Medium Bullish Divergence
The price makes a double bottom, almost the same level as the previous low and the oscillator makes a higher low. This indicates that at the same price levels, the momentum is increasing.
Price: Equal Low(EL)
Oscillator: Higher Low(HL)
3. Weak Bullish Divergence
In a weak bullish divergence, the price makes a lower low but the oscillator has almost the same low levels. This means, even though the price is decreasing, the momentum is intact.
Price: Lower Low(LL)
Oscillator: Equal Low(EL)
4. Hidden Bullish Divergence
The hidden bullish divergence occurs at less frequency as compared to the other types. In this, the price forms a higher low, but the momentum oscillator forms a lower low. This indicates that even at a decreasing momentum, there is enough buying going on to push the price up.
Price: Higher Low(HL)
Oscillator: Lower Low(LL)
Pro Tip:
1. For bullish divergence, we only look at the LOWS .
2. Don’t memorize the cases. Just understand that if the divergence is occurring at the lows, then the price will reverse in the opposite direction i.e. it will go up. Hence, you just have to spot the divergence, regardless of the name.
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Two Candlestick Pattern - Bullish EngulfingA bullish engulfing pattern is a candlestick pattern that forms when a small Red candlestick is followed the next day by a large Green candlestick, the body of which completely overlaps or engulfs the body of the previous day’s candlestick.
Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more black candlesticks.
Investors should look not only to the two candlesticks which form the bullish engulfing pattern but also to the preceding candlesticks.
Limitations -
A bullish engulfing pattern can be a powerful signal, especially when combined with the current trend; however, they are not bullet-proof. Engulfing patterns are most useful following a clean downward price move as the pattern clearly shows the shift in momentum to the upside. If the price action is choppy, even if the price is rising overall, the significance of the engulfing pattern is diminished since it is a fairly common signal.
The engulfing or second candle may also be huge. This can leave a trader with a very large stop loss if they opt to trade the pattern. The potential reward from the trade may not justify the risk.
Establishing the potential reward can also be difficult with engulfing patterns, as candlesticks don't provide a price target. Instead, traders will need to use other methods, such as indicators or trend analysis, for selecting a price target or determining when to get out of a profitable trade.
Important Points-
The Green candlestick of a bullish engulfing pattern typically has a small upper wick, if any. That means the stock closed at or near its highest price, suggesting that the Candlestick Closed while the price was still surging upward.
This lack of an upper wick makes it more likely that the next candlestick will produce another Green candlestick that will close higher than the bullish engulfing pattern closed, though it’s also possible that the next day will produce a Red candlestick after gapping up at the opening. Because bullish engulfing patterns tend to signify trend reversals, analysts pay particular attention to them.
{Source - Investopedia.com}
