Long ETHUSD (4H timeframe)
Updated
Long entry for ETHUSD at 1648 USD.
The price broke out of the Kumo Cloud and the Chikouspan is now completely free from the price and Kumo Cloud.
This is a continuation of the previously established uptrend. The trend is still strong with all the EMA's (9 to 200) aligned and the price is now above the yearly pivot.
The first resistance is expected around the Monthly R1 Pivot Point level at 1735. Once this level is broken there is a possibility the price will go to the Monthly R2 Pivot Point level at 2400.
Keep in mind that the merge is in September which fuels this bullish signal.
Fingers crossed.
The price broke out of the Kumo Cloud and the Chikouspan is now completely free from the price and Kumo Cloud.
This is a continuation of the previously established uptrend. The trend is still strong with all the EMA's (9 to 200) aligned and the price is now above the yearly pivot.
The first resistance is expected around the Monthly R1 Pivot Point level at 1735. Once this level is broken there is a possibility the price will go to the Monthly R2 Pivot Point level at 2400.
Keep in mind that the merge is in September which fuels this bullish signal.
Fingers crossed.
Trade active
The price is hovering around R1, forming a bullish flag. Expect a continuation of the strong uptrend.Comment
The bullish flag did not work out. Trade closed at 1623$, we took our losses at -1.75%Comment
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