ETHUSDGoing Long on 15' as PSI shows that it made a higher Low and holding above Zero line.
This is also in the direction of 1H chart where it looks to be holding this support area at 3335 and 3315.
When PSI 15' confirms a good bounce/higher Low, this would also be shown on the 1H chart where the PSI 1H would start to curl to the upside.
Trade active
Price has now reach 3360 a significant resistance level. 3' chart is now looking really extended and PSI 3' also shows that has gone strong to the upside. A pullback is likely to happen, and if it looks like its holding at 3340-3350 range, it may have a good chance for a retest of 3360, then upwards to 3390.Trade closed manually
It did not made that pullback. So it went higher on both 15' and 1H time frame, PSI on both 15' and 1H is in sync on the direction.But PSI on 3' shows a significant peak, took profit at 3375 for 1.5R.
Had it made a pullback, then it would have been better to get that 2R. A good move need some rest to continues further. So when price action just bulldozes away, that when its a good time to pay close attention.
Note
It did made a lil bit of pullback at 3370-3380 on 3' chart, then made a push towards 3390 where 2R was. However, it is important to note that PSI 3' shows that the move upwards to 3390 after that brief pullback was weak. It is likely to reverse when it gets really close to the next resistance at 3390-3400.And it did.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.