Apologies for my terrible charting skills.
Trend lines are the downward trend from the ATH and key resistance and support areas for lower time frames.
I was shorting
ETHUSD as of lately but about 14 hours ago I realized how risky this was as of lately due to the fact that we were getting higher lows on larger timeframes. I took a long position at $2335, and now I'm just going to enjoy the ride. We'll have to see how well and if, we can cross $2550. If we can cross it in a short period of time then we are definitely bullish and I will hold my long position. If not, I will reassess and possibly short for the short-term.
Trend lines are the downward trend from the ATH and key resistance and support areas for lower time frames.
I was shorting
ETHUSD as of lately but about 14 hours ago I realized how risky this was as of lately due to the fact that we were getting higher lows on larger timeframes. I took a long position at $2335, and now I'm just going to enjoy the ride. We'll have to see how well and if, we can cross $2550. If we can cross it in a short period of time then we are definitely bullish and I will hold my long position. If not, I will reassess and possibly short for the short-term.
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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.