ETH/USD: Smart Money Concepts and Price Action Analysis
ETHUSD ETH/USD: Smart Money Concepts and Price Action Analysis for Optimal EntriesAnalysis:
Price Action Strategy:
Support and Resistance Levels:
Key support level at approximately 3,316.6 USD.
Key resistance level at approximately 3,387.5 USD.
Trend Analysis:
The chart shows a recent downtrend with multiple Break of Structure (BOS) and Change of Character (CHoCH) indicating potential reversals.
The price is currently testing an Order Block (OB) around 3,370.6 USD, suggesting a potential buy opportunity if the price holds above this level.
Smart Money Concepts (SMC):
Order Blocks (OB):
A bullish OB is identified around 3,370.6 USD, indicating a potential buy zone.
A bearish OB is identified around 3,387.5 USD, indicating a potential sell zone.
Break of Structure (BOS) and Change of Character (CHoCH):
Multiple BOS and CHoCH are marked, indicating shifts in market structure and potential entry points.
ICT Strategy:
Fibonacci Retracement Levels:
Key Fibonacci levels are marked: 0.382 (3,357.0 USD), 0.618 (3,324.1 USD), 0.705 (3,403.7 USD), and 0.786 (3,415.5 USD).
The price is currently near the 0.382 level, suggesting a potential retracement and buy opportunity.
Volume Profile:
High volume nodes around 3,380.6 USD and 3,370.6 USD indicate significant trading activity and potential support/resistance zones.
Indicators:
RSI:
RSI is currently around 49.00, indicating neutral momentum but potential for a bullish reversal if it moves above 50.
MACD:
MACD shows a potential bullish crossover, suggesting a buy signal if confirmed.
Buy Opportunity:
entry: 3370.6
tp1: 3387.5
tp2: 3415.5
sl: 3316.6
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Alex Gold Hunter
Free Signals & analysis
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bit.ly/3ODlUI4
Free Signals & analysis
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tinyurl.com/ClassicFreeSignals
bit.ly/4fQGd0G
bit.ly/3ODlUI4
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.