ETHUSD - You Decide => We Follow!

2 Apr 2021

As per my last video analysis (attached below), we are still waiting for ETH to reject OR break the 2k and then act accordingly.

Here are the two possible scenarios: As per my trading plan.

Scenario 1 - ETH rejects the 2k and trades lower => In this case, we will be looking for buy setups as it approaches the 1.5k or any key support area.

For this scenario to be confirmed / valid, we need a third swing low to form around the lower red trendline (projection in purple) and then a candle close (H1) below it (zone in gray). Or any bearish reversal pattern.

Scenario 2 - ETH breaks the 2k => In this case, we will be looking for buy setups on its retest.

For this scenario to be confirmed / valid, we need two full bullish daily candles closing above the 2k

Always follow your trading plan regarding entry, risk management, and trade management.

Which scenario is more likely to happen in your opinion? and Why?

All Strategies Are Good; If Managed Properly!
~Rich