ETHUSD4H chart is looking good for a move upside as it made a higher low after a good bottom. At the moment it does look like this is a confirm reversal with current support area at 3360-3400.
1H chart is looking a bit high at the moment on the PSI 1H so it may need to rest. This pullback need to be able to hold the support at 3360-3400. If this support breaks, then this trade is invalidated.
Overall trend on 4H is still looking good on uptrend.
Entry: 3340
SL: 3360
Target: 3595 (just below 3600)
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Note
Looks like the pullback is starting to happen now. This would be good if price hold at 3405-3420.
As of now, that 3400 is a significant key level, and if price action do reach that 3400, it is not looking great for this trade.
SL moved to just below 3400.
Trade closed: stop reached
Stop loss hit. At this point in time, its is key for ETHUSD to hold its current major support at 3370-3390 for this to be a valid Long.I find that if price can get back in 3400-3420, this would look really good to the upside.
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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.