Low risk trade ETH 1D
Updated
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Over the past few days
ETHUSDT has been consolidating over a very important support level, which is 127$ and showed a bullish movement. However ETHUSDT is forming a bearish inside bar which means we are pulling back to test that support again.
Also ETH is now pretty warmed up fundamentally due to hard forks which are happening 11 and 16 of January.
After ETH tests the support it will head towards 168$ which is our first take. 168 level has always historically been a very strong support, capable of a local trend reverse. So it will be a major test for bulls.
If we manage to break through 168 the next take will be 190$ which was acting as our support before the dump.
To sum up it is a low risk trade with a clear spot for a stop loss.
Entry : 130$-127$
STOP: 120$, however if you are worried that you will get stopped out and willing to take extra risk put it to 110$ bellow 2 bar false breakout.
1 take: 168$
2 take: 190$
He was the one to transform metal to gold, water to vine and charts to cash. D. Chemist
All information in the article is for educational purpose only and is not a trading advice.
Over the past few days
ETHUSDT has been consolidating over a very important support level, which is 127$ and showed a bullish movement. However ETHUSDT is forming a bearish inside bar which means we are pulling back to test that support again.Also ETH is now pretty warmed up fundamentally due to hard forks which are happening 11 and 16 of January.
After ETH tests the support it will head towards 168$ which is our first take. 168 level has always historically been a very strong support, capable of a local trend reverse. So it will be a major test for bulls.
If we manage to break through 168 the next take will be 190$ which was acting as our support before the dump.
To sum up it is a low risk trade with a clear spot for a stop loss.
Entry : 130$-127$
STOP: 120$, however if you are worried that you will get stopped out and willing to take extra risk put it to 110$ bellow 2 bar false breakout.
1 take: 168$
2 take: 190$
He was the one to transform metal to gold, water to vine and charts to cash. D. Chemist
All information in the article is for educational purpose only and is not a trading advice.
Trade active
Entry target reached. wish you all a good profits.Comment
Same as to EOS, 110 stop held us because at the end of December we could see a very strong buyer working around that price. our target remains the same which is 170 level, however the real question is how the crowd is going to react to the hard fork.There are 2 options I can see.
1) we continue to grow after hard fork release
2) 16 January massive sell of...
So we really need to pay a close attention to what is going to happen 16 Jan after the fork, If we will start to go bearish we should look at closing our position at 140$ price
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