ETHUSD Meets the 4Hour Cloud - Heavy Resistance
Updated
ETHUSDhas come up nicely off of support; I was in a long position from ~130 based off the 3Day QRsi trend support here:
However, I'm currently FLAT due to the massive interruption the 4H cloud brings to the rally.
This particular 4H cloud path has proven it's strength, and price will need to push it's way through this level with energy left to clear the top of the cloud as well.
Trading Ideas; Scalp the pullback (short) until trend support levels are established and confirmed on 30Min QRsi trend; at which point go long and target the 3D QRsi resistance or 3D HeffaeCloud bottom, whicherver comes first. This is likely to be $164-175 depending on when it moves.
30Min QRsi trend structure on bitmex quanto:
Note lower QRsi Trend paints to the stop-run wick as support
(this looks bullish to me, and screams continuation!)
Short a failed rally! Don't close until QRsi trend support is established and tested! Don't get stuck in one sentiment :D
Long the support area of this pullback with stops under clear breaks from QRsi trends as well as lazy candle closes under support. Chart ETHUSD on different exchanges, right now FINEX, GDAX, and BMex Quanto are all charting differently on the lower timeframes.
As well as the 30Min QRsi trend pointing to bottom of stop-run wick as support, the 3H did the same. Multiple timeframes showing confluence with SnR levels == winning trades!
QuantRsi trendlines functioning as Support / Resistance:
However, I'm currently FLAT due to the massive interruption the 4H cloud brings to the rally.
This particular 4H cloud path has proven it's strength, and price will need to push it's way through this level with energy left to clear the top of the cloud as well.
Trading Ideas; Scalp the pullback (short) until trend support levels are established and confirmed on 30Min QRsi trend; at which point go long and target the 3D QRsi resistance or 3D HeffaeCloud bottom, whicherver comes first. This is likely to be $164-175 depending on when it moves.
30Min QRsi trend structure on bitmex quanto:
Note lower QRsi Trend paints to the stop-run wick as support
(this looks bullish to me, and screams continuation!)
Short a failed rally! Don't close until QRsi trend support is established and tested! Don't get stuck in one sentiment :D
Long the support area of this pullback with stops under clear breaks from QRsi trends as well as lazy candle closes under support. Chart ETHUSD on different exchanges, right now FINEX, GDAX, and BMex Quanto are all charting differently on the lower timeframes.
As well as the 30Min QRsi trend pointing to bottom of stop-run wick as support, the 3H did the same. Multiple timeframes showing confluence with SnR levels == winning trades!
QuantRsi trendlines functioning as Support / Resistance:
Note
Top of the 4H Cloud!
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