Trading ETHUSD with RSI and Pattern Recognition ⏳
Updated
Greetings, fellow traders! I have identified a potential 5% profit opportunity on ETHUSD. The RSI indicator suggests that the bulls are gaining momentum in this dungeon of despair 🐂. The RO Flash indicator confirms this bullish sentiment by flashing green 🔥. I have placed a stop loss slightly below the target of the Rising Wedge pattern (kudos to TradingView for the new pattern recognition feature!). Let’s see how this trade plays out…🤞 According to a recent lesson I learned, consolidation near resistance or support levels often leads to a breakout failure. Will history repeat itself? Only time will tell! ⏳ To add more confidence to my analysis, I have also used the Anker Technical Analysis (TA) Kit indicator, which combines multiple technical tools such as moving averages, trend lines, Fibonacci retracements and more. This indicator shows me that ETHUSD is following a strong uptrend line and has bounced off the 50% Fibonacci retracement level. This is a sign of strength and continuation 🚀
Trade active
👋 Hey everyone! I’m happy to share that I’m currently in profit 2.5% on my way to a desired 5.38% gain. 😎 I’m feeling confident about my skills and pushing through the feelings of self-doubt. 💪 I analyzed this properly and we should be good to go! 🚀Trade active
So far, I’m up to 3.8% on this trade, which is not bad considering the market volatility. The RSI is approaching 50, indicating a bullish momentum. However, I’m also aware of the potential resistance at $1,850 and $1,900, so I will be monitoring the price action closely and adjusting my stop loss accordingly.I’m still confident that ETHUSD will reach my target in the next few days, as long as it stays above the triangle support line. This is a high probability trade based on pattern recognition and RSI analysis. I will keep you updated on any changes or developments. Thank you for your support and happy trading!
Trade closed: target reached
Trade closed: 🎉 Hooray! I have successfully closed this trade at 2am local time for a 5.28% profit. 🥳 I am very happy with this result and feeling that my learning efforts are paying off. 🙌 I followed my plan and executed it flawlessly. 💯 I want to thank you all for your encouragement and feedback along the way. You are awesome! 😍This trade has taught me a lot about patience, discipline and risk management. I have also learned to trust my analysis and indicators, and not to let emotions cloud my judgment. 🧠 I hope you have learned something from this trade as well, and I look forward to sharing more opportunities with you in the future. Until then, happy trading and stay safe! 🙏
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