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Track the correction on 30min in Ethereum to catch the big move.Candlestick Chart + The moving average lines are contracted. + Track the price until it crosses either 50ema or 100ema lines. + It may test the level of 200ema to end its correction. + So, the levels of 1600 to 1626 may be tested to complete the correction. Renko Chart (Brick Size = 7.5) + Fibonacci Retracement The price can test the level of 1626 which is 38% level of retracement. Conclusion: 1. The coin is in the correction mode. 2. Wait for the correction to be completed. Thanks Er. Simranjit Singh Virdi
Long
by ssvirdi
Ethereum analysis on the daily timeframe with supp & resisBased on the daily timeframe analysis of Ethereum (ETH), we can observe that the cryptocurrency is currently facing important support and resistance levels. If the daily candle closes below 1681, we may see a pullback to the Fibonacci retracement levels of 0.382 and 0.5, which are located at around 1400. This area could serve as a significant support level, where buyers may step in and push the price higher. However, if the daily candle closes above 1681, we may see a rally towards the resistance levels of 1753 and 1896. These levels may pose challenges for buyers as the price could encounter selling pressure and struggle to move past them. Traders and investors should keep a close eye on the price action near these key levels, as they may provide useful insights for making trading decisions. It is important to remember that technical analysis is only one aspect of the market and should be considered alongside other factors before making any investment decisions.
by nawaab001
Risk-Reward ratioHey everyone!👋 Risk management is an essential part of successful trading as it helps in identifying, assessing, and mitigating potential risks that may arise from various factors such as volatility. Whether you are a day trader, swing trader, or scalper, effective risk management can help you in protecting your capital, and minimising losses while maximizing potential profits. Before we move ahead, please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading! One of the key pillars of risk management is Risk-Reward (RR) ratio. Traders can use this concept for optimising their entries and exits. 📚 What is Risk-Reward ratio? → The RR ratio measures your potential risk to the potential loss for a given trade. → A Risk:Reward of 1:3 means that you are risking 1 point in order to gain 3 points. → Conversely, some traders like to visualise it as Reward:Risk, in which case, the same proportion is written as 3:1. 🔍 What's an ideal Risk-Reward ratio? → In general, some traders consider 1:2 or higher as a good RR ratio. → However, this is not written in stone and should not necessarily be taken at face value. → There is no “One-size-fits-all” approach. Different traders have different systems and winning rates. → The risk-reward ratio combined with the win rate determines a trader's profitability. 🚨 Risk-Reward versus Win rate % For a trader to stay breakeven, → A low RR requires a higher winning rate → A high RR requires a lower winning rate As evident from the above data, a trader using a higher RR with a low win rate can still be profitable. Hence, traders must combine their winning rate with an optimal RR to reach their desired profitability target. Need for a balanced approach → A high risk-reward ratio seems attractive because it allows traders to make more profit than they stand to lose. → Similarly, a low risk-reward seems less attractive because it gives less reward as compared to the risk. Example: Buying the horizontal breakout (Higher risk, higher RR) Example: Buying the horizontal breakout (Lower risk, lower RR) Risk is subjective and no two traders have the same risk tolerance. Therefore, it is advisable to use a RR as per your own trading system and the winning rate so as to ensure that the potential reward justifies the potential risk. Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Instagram , and YouTube for more awesome content! 💘
Education
by TradingView
13
Eth on daily time frame with supp & resis#ETH is on the brink of breakout!⁣ It's time for #crypto traders to pay attention to the up-channel and its breaking upper side trend line.⁣ Are you ready to join the #eth rally? Make sure you understand how market trends can help you maximize your gains. ⁣ At #Tradingview, we take pride in helping our community members track their investments and build a successful portfolio.⁣ Don't miss out on the chance to capitalize on this unique opportunity. Start trading with us today and get ahead of the game!
by nawaab001