The Bull & The Bear Cross Paths POSSIBLE DANGER (ETH)
Hello everyone,
Some new, outside the box thinking for the hunting trip again.
I am in a long position right now, but I didn't realize the urgency about this breakout until now.
From my findings It seems that the previous breakout attempts are linear with the first and second one that failed.
(See the blue triangle upper trendline lining up perfectly with the previous breakouts to the current breakout).
You could also spot the drop that occurred after that HS pattern that was partially formed outside the downtrend line ("The breakout(s)").
This Makes me VERY nervous when i was analyzing the current breakout, and for those who don't know what im talking about, I'm talking about the MASSIVE H&S forming (faint dashed red lines).
Sure, many have probably spotted this, but this does NOT mean it will materialize by any means, if you look at the first left shoulder thats within the red dashed line, it actually rallied up to form the current head, and now we are at the right shoulder. So we should not over read into this, but you should definitly prepare for such outcome.
So my conclusion of the current chart is that we are in a last stand with the bears, it's do or die, i don't see another option but to go back and re-test the 0.236 support if we don't rally from here.
We have a standoff and the winner will be revealed very soon, stay safe and good luck!
Some new, outside the box thinking for the hunting trip again.
I am in a long position right now, but I didn't realize the urgency about this breakout until now.
From my findings It seems that the previous breakout attempts are linear with the first and second one that failed.
(See the blue triangle upper trendline lining up perfectly with the previous breakouts to the current breakout).
You could also spot the drop that occurred after that HS pattern that was partially formed outside the downtrend line ("The breakout(s)").
This Makes me VERY nervous when i was analyzing the current breakout, and for those who don't know what im talking about, I'm talking about the MASSIVE H&S forming (faint dashed red lines).
Sure, many have probably spotted this, but this does NOT mean it will materialize by any means, if you look at the first left shoulder thats within the red dashed line, it actually rallied up to form the current head, and now we are at the right shoulder. So we should not over read into this, but you should definitly prepare for such outcome.
So my conclusion of the current chart is that we are in a last stand with the bears, it's do or die, i don't see another option but to go back and re-test the 0.236 support if we don't rally from here.
We have a standoff and the winner will be revealed very soon, stay safe and good luck!
Сделка активна:
Minor Support: 700
Mid Support: 635-655 (Fib 0.786)
Major Support: 455-500
Trade Target: 875 (Fib 1.618)
Stop Loss: 695
Mid Support: 635-655 (Fib 0.786)
Major Support: 455-500
Trade Target: 875 (Fib 1.618)
Stop Loss: 695
Комментарий:
Which Way Do We Go ?
Комментарий:
Комментарий:
We broke out of the local triangle, Lets see if we can move outside from my blue triangle now :)
Сделка активна:
We got rejected from the bull zone and volume looks pretty poor right now, we will probably see some more consolidation before taking a decisive direction for now.
Комментарий:
Lower highs and lower lows, doesnt look to good right now.
Комментарий:
Getting closer to the danger zone , going to pull my short trigger if we don’t bounce from the uptrend channel into the bull zone.
Сделка закрыта: достигнута тейк-профит цена