ETHEREUM - CORRECTION THEN LONG
We took this beautiful long and price printed a fresh ATH yesterday... took partial profits, rest of my position still running. Now what we can see is on the daily timeframe market has made a strong bullish impulse to the upside and broke above the previous daily high. After such a impulse we expect to see a correction, specifically we expect to see a correction to atleast the 0.382 fibonacci, in this case this fib is aligning perfectly with the previous high which gives us a nice confluence of support. I will be waiting on the 4hr timeframe for a correction to hit this zone then if all my entry rules are satisfied i will be adding a second position to ETHUSDT and compounding our trade.
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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.