AM.98

ETHUSD In Consolidation Mode

AM.98 Uppdaterad   
COINBASE:ETHUSD   Ethereum
Hello everyone, if you like the idea, do not forget to support with a like and follow.

First of all what is consolidation ? Consolidation is generally interpreted as market indecisiveness, which ends when the asset's price moves above or below the trading pattern.
A consolidation pattern could be broken for several reasons, such as the release of materially important news or the triggering of a succession of limit orders.


Pretty simple plan,

A break and a candle close of the resistance will lead us to the upside target.

A break and a candle close of the support will lead us to the downside target.

Wide placement of the stop losses above the resistance and below the support will be a good idea to avoid stop loss hunting.

Also trading within the range is possible just long the support and short the resistance.

Thank you for reading my post, have a great day, wish you all the best !

Information provided is only educational and should not be used to take action in the market.

Feel free to ask anything in the comments :)
Kommentera:
Fakeout and back to the bottom of the channel typical move.

Nice region here to place some longs with tight SL.
Kommentera:
Hope you took the trade ;)
Trade stängt: målet nått

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