Track the correction on 30min in Ethereum to catch the big move.

17 Feb 2023

Candlestick Chart
+ The moving average lines are contracted.
+ Track the price until it crosses either 50ema or 100ema lines.
+ It may test the level of 200ema to end its correction.
+ So, the levels of 1600 to 1626 may be tested to complete the correction.

Renko Chart (Brick Size = 7.5)
+ Fibonacci Retracement
The price can test the level of 1626 which is 38% level of retracement.

Conclusion:
1. The coin is in the correction mode.
2. Wait for the correction to be completed.

Thanks
Er. Simranjit Singh Virdi

18 Feb 2023

Dagangan aktif

Support on 1687.50 is formed.
And we can draw a triangular pattern by using this support level.
We can also execute a long trade on the breakout of the triangle.

Renko chart (Brick Size = 3.75)
This breakout will form 2 new bricks on the previous brick.
By this 3 Green Bricks / Base zone will be structed.

18 Feb 2023

Dagangan aktif

Got a breakout of the triangle.
Total 2 Green Bricks are constructed after the reversal on Renko Chart

I executed a long trade on the level of 1700
with a stop level of 1685.50

20 Feb 2023

Dagangan aktif

Accidentally I missed the target and stoploss.
So, I reanalyzed the charts.
1) Price successfully tested its 200ema.
2) On Renko Chart Brick Size of 5 has constructed 5 green bricks.
So, I hold my position with a new revised stoploss.