Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
After rejecting the 1700 resistance, ETH has been bearish from a medium-term perspective.
🏄🏻♂️ ETH is now approaching a strong rejection zone, which I call a "TRIO RETEST"
1- The lower orange trendline of the channel acting as a non-horizontal support (in oarnge)
2- The horizontal support zone 1450 - 1500 (in green)
3- The lower red trendline of the megaphone pattern acting as an over-sold zone (in red)
As per my trading style:
As ETH approaches the blue circle intersection, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Which scenario do you think is more likely to happen? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
After rejecting the 1700 resistance, ETH has been bearish from a medium-term perspective.
🏄🏻♂️ ETH is now approaching a strong rejection zone, which I call a "TRIO RETEST"
1- The lower orange trendline of the channel acting as a non-horizontal support (in oarnge)
2- The horizontal support zone 1450 - 1500 (in green)
3- The lower red trendline of the megaphone pattern acting as an over-sold zone (in red)
As per my trading style:
As ETH approaches the blue circle intersection, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
Which scenario do you think is more likely to happen? and why?
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal