EthereumLong
BULLISH play for Ethereum
STOP LOSS: 883.68
TAKE PROFIT: 1409.25
Risk-reward: 7.71x
Longer term trend: Bullish
Current trend: Bearish
General comments:
Ethereum made an attempt to surpass the upper limit without success. However, price found support at the 50% retracement area at about $915.41. This signals another buying opportunity with a tight stop-loss, as a candle play.
What I like:
1) Excellent risk-reward, like many cryptocurrency ideas
What I dislike:
1) Speculating the break of the upper limit is highly risky, though should this idea materialize it will be very rewarding. My personal recommendation is to wait till a break above to consider a long position.
Other things to note:
Should you consider the long position, entry should be placed a few dollars above the high of the H4 pin.
*Do support by liking and following! All suggestions/feedback welcome!
x,
iskfx
TAKE PROFIT: 1409.25
Risk-reward: 7.71x
Longer term trend: Bullish
Current trend: Bearish
General comments:
Ethereum made an attempt to surpass the upper limit without success. However, price found support at the 50% retracement area at about $915.41. This signals another buying opportunity with a tight stop-loss, as a candle play.
What I like:
1) Excellent risk-reward, like many cryptocurrency ideas
What I dislike:
1) Speculating the break of the upper limit is highly risky, though should this idea materialize it will be very rewarding. My personal recommendation is to wait till a break above to consider a long position.
Other things to note:
Should you consider the long position, entry should be placed a few dollars above the high of the H4 pin.
*Do support by liking and following! All suggestions/feedback welcome!
x,
iskfx
Automate your trading with Tradingview alerts to Metatrader 4/5 using webhooks.
Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
Automate your trading with Tradingview alerts to Metatrader 4/5 using webhooks.
Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
Start your 14-day free trial now @ pineconnector.com/. Credit card not required.
Related publications
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.