ETH/USD showing signs of a potential upturn. With a recent history of lower lows and lower highs, the RSI Divergence Indicator is hinting at bullish divergence right at the $2,800 mark. This could signal the tides are turning for Ethereum.
For a day trade, if we see a strong rebound off $2,800, establishing a higher low, that's our cue to consider a long entry. Should this level fail to hold as support, we'll look towards $3,000, watching for bullish confirmation there.
With a 1:2 risk-reward ratio in mind, if we enter at $2,800, we'll set a tight stop loss at $2,750. Our profit target would then be at $2,900, ensuring we're aiming for double the reward compared to the risk we're taking.
Happy trading, and remember, keep those stop losses tight!
The Chart Whisperer ⛵📊
**#ETHUSD #TradeEntry #DayTrading #RiskManagement**
For a day trade, if we see a strong rebound off $2,800, establishing a higher low, that's our cue to consider a long entry. Should this level fail to hold as support, we'll look towards $3,000, watching for bullish confirmation there.
With a 1:2 risk-reward ratio in mind, if we enter at $2,800, we'll set a tight stop loss at $2,750. Our profit target would then be at $2,900, ensuring we're aiming for double the reward compared to the risk we're taking.
Happy trading, and remember, keep those stop losses tight!
The Chart Whisperer ⛵📊
**#ETHUSD #TradeEntry #DayTrading #RiskManagement**