DBL bottom on ETHUSD signals retrace
Following double bottom pattern formation the price is generally believed to rise at least to its target level, calculated as follows:
Where:
T = TP (target level);
R – resistance level (recent local high);
H — higher high (fluctuates based on basic indicators)
S – stop-limit (distance between current price and prior resistance levels).
Disclaimer
NOT financial advise. Just magic from your local sorcery. Trade responsibly!
-a1mtarabichi
- T = R + H,
Where:
T = TP (target level);
R – resistance level (recent local high);
H — higher high (fluctuates based on basic indicators)
S – stop-limit (distance between current price and prior resistance levels).
- T = $187.70S = $176.58R = $184.86H = Blue horizontal
Disclaimer
NOT financial advise. Just magic from your local sorcery. Trade responsibly!
-a1mtarabichi
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