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Ethereum Price Analysis: Crucial Chart Patterns to Keep in Mind Conclusion for today’s Ethereum Analysis: A close above 187.45 is crucial for Ethereum to maintain its current bullish momentum from 84.00 Ethereum technical analysis for today is presented on the 6 hour time frame candlestick chart using a logarithmic scale. The only goal of using a chart pattern is to make profit. For this to happen, the most crucial aspect is in the early recognition of the potential pattern(s) that the market is presenting, a thorough understanding of their implications, and also projection. The different chart patterns that formed from August 14, 2018 as part of the bearish move that terminated on December 15, 2018 are highlighted on the Ethereum chart. 84.00 marked the price low on December 15, 2018, after which price made its most recent peak at 187.98 on April 08, 2019. A rising wedge chart pattern is used to describe price action between the aforementioned dates. A bullish price channel is another chart pattern that can be monitored as part of the future development of price action. The top boundary of the channel is drawn in dotted red lines, while its bottom (parallel line) is also the lower boundary of the wedge. The bullish channel as drawn is tentative. A break above 187.98 increases the chance of Ethereum targeting the upper boundary of the bullish channel and eventual break above the channel itself can provide a guide for the minimum projection of price action. The implication of the rising diagonal (wedge) pattern is ideally bearish and suggests that a sell off should ensue in the price of Ethereum with the minimum expectation being the origin of the chart pattern at ~ 84.00.
BITFINEX:ETHUSD
by Coin_Analyst
GBP/USD - 3 TRADES -> 2W & 1L -> NET +2.87% GAINHey everyone, I was able to take 3 trades on the GBP/USD on Friday but didn't have the time to post them on the same day so here they are :) I will be posting both the screenshot from my broker's platform as well as the 5m chart below so that you can clearly see the levels laid out. (cannot post an idea below the 15m TF and my trade was taken on the 5m) Details: Trade (1) - BUY Entry @ 1.30525 Exit @ 1.30534 Trade (2) - SELL Entry @ 1.31043 Exit @ 1.31051 Trade (3) - SELL Entry @ 1.31150 Exit @ 1.31135 **NOTE THAT THESE TRADES HAS ALREADY BEEN TAKEN, IT IS NOT A RECOMMENDATION TO TRADE www.mql5.com
by Aqua_Trader
Possible USD/JPY Short position!! SMP TRADING SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY Chart time frame - H4 Timeframe 1-4 Days Actions on - A – Activating Event Market will meet resistance in zone @111.966 - .... and fall to the 109.86. In order to enter, the pair MUST be in line with my Entry Procedure.... B – Beliefs Market move towards the first Target 1 level @ 109.86 FX:USDJPY Trade Management Entered @ ..... Stop Loss @ ..... Target 1 @ 109.86 Target 2 @ .... Risk/Reward @ 5.1 Happy trading :) Follow your Trading plan, remain disciplined and keep learning !! Please Follow, Like,Comment & Follow This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Short
by SMPTrader
GBPUSD Technical Analysis Today: Bearish Bias Conclusion for today’s analysis: Price closing below 1.3012 favors more downside action in the GBPUSD (Cable). GBPUSD technical analysis for today is carried out on the 6 hour time frame candlestick chart. Emphasis or focus is mainly placed on chart pattern development in the cable (GBPUSD) and its possible implications. Bullish price swing from a price low of 1.2437 on January 02, 2019 to a price peak of 1.3381 on March 13, 2019 is captured in today’s GBPUSD analysis using a rising wedge chart pattern. The implication of the chart pattern is ideally bearish with chart pattern confirmation established on March 28, 2019 when price closed below the lower boundary of the wedge. The second chart pattern currently under development (i.e. tentative) is the bearish channel highlighted on the chart. The same price peak on March 13, 2019 is used as part of the pivots used to establish the upper boundary of the bearish channel. Also shown on the chart is immediate resistance between 1.3272 and 1.3197. Price closing above the upper boundary of resistance (1.3272) especially decreases the chance for more downside momentum in the GBPUSD. Price break below 1.3056 or 1.3012 can be employed as part of the plan or strategy to establish a sell order(s) in the GBPUSD, as well as consideration or momentum studies.
Short
by Coin_Analyst