ETH 30m 06/12
Analysis:
Following on from yesterdays analysis we can see that price has respected our 3 zones, if you scale into the 5m chart you'll see more info for the one big candle you can see which is covering the entire swings high and low.
Lets look at the three areas of interest and break it down further:
Respected Supply Zone - We can see that price came perfectly into this zone which we identified would indicate a good opportunity for long positions.
Sweet Spot - Price wicked into the Supply zone which is now respected and even closed above this zone, absolute pin point entry.
FVG - Price closed within this zone which means this is also a great area to take long positions. We have not yet had a close below this zone.
I would expect to see price either consolidate between the FVG and the Swing High however if not I would expect it to jump past M30 Swing High in very few candles.
To consider:
Following on from yesterdays analysis we can see that price has respected our 3 zones, if you scale into the 5m chart you'll see more info for the one big candle you can see which is covering the entire swings high and low.
Lets look at the three areas of interest and break it down further:
Respected Supply Zone - We can see that price came perfectly into this zone which we identified would indicate a good opportunity for long positions.
Sweet Spot - Price wicked into the Supply zone which is now respected and even closed above this zone, absolute pin point entry.
FVG - Price closed within this zone which means this is also a great area to take long positions. We have not yet had a close below this zone.
I would expect to see price either consolidate between the FVG and the Swing High however if not I would expect it to jump past M30 Swing High in very few candles.
To consider:
- Currently within ATH range
- Bull run Cycle
- Crypto news and speculation
- FOMO
Trade active
As predicted, we can see that price has flew past the M30 Swing High in few candles. Price reacted as described, consolidating a little before taking off!
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.
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.