schillingderek

ETHUSD - ascending triangle on 2HR chart

BITFINEX:ETHUSD   Ethereum / Dolar
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Appears we may be forming an ascending triangle with resistance at the 740 level. Watch for breakout (up or down) as we get closer to the triangle's apex.

Consider going long if a breakout occurs above the 740 resistance and shorting/stop-loss under the slope of the triangle along the hypotenuse.

This is for informational purposes only and should not be used as a basis for placing trades.
When triagles are made the price folows the trend, so will go to the downside.
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schillingderek FilipeMiguel
@FilipeMiguel, thanks for that info - I will incorporate into future postings.
Balas
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