STOP LOSS: 883.68
TAKE PROFIT: 1409.25
Risk-reward: 7.71x
Longer term trend: Bullish
Current trend: Bearish
General comments:
Ethereum made an attempt to surpass the upper limit without success. However, price found support at the 50% retracement area at about $915.41. This signals another buying opportunity with a tight stop-loss, as a candle play.
What I like:
1) Excellent risk-reward, like many cryptocurrency ideas
What I dislike:
1) Speculating the break of the upper limit is highly risky, though should this idea materialize it will be very rewarding. My personal recommendation is to wait till a break above to consider a long position.
Other things to note:
Should you consider the long position, entry should be placed a few dollars above the high of the H4 pin.
*Do support by liking and following! All suggestions/feedback welcome!
x,
iskfx
TAKE PROFIT: 1409.25
Risk-reward: 7.71x
Longer term trend: Bullish
Current trend: Bearish
General comments:
Ethereum made an attempt to surpass the upper limit without success. However, price found support at the 50% retracement area at about $915.41. This signals another buying opportunity with a tight stop-loss, as a candle play.
What I like:
1) Excellent risk-reward, like many cryptocurrency ideas
What I dislike:
1) Speculating the break of the upper limit is highly risky, though should this idea materialize it will be very rewarding. My personal recommendation is to wait till a break above to consider a long position.
Other things to note:
Should you consider the long position, entry should be placed a few dollars above the high of the H4 pin.
*Do support by liking and following! All suggestions/feedback welcome!
x,
iskfx
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