Until the S&P 500 decides which way it will go, ETHUSD will likely oscillate in a trading range within this triangle.
I would not go long on the daily or longer TF until it breaks above it and has confirmation via a retest.
When in doubt: look to the S&P for guidance. Highly-correlated.
I don't see below $1700ish and next major significant low to break through is in the mid-$2400s.
A low below that and next week might bring us to the $1700 range.
Sorry for the sloppiness, I cannot seem to grok T/V's idea publishing system.
I would not go long on the daily or longer TF until it breaks above it and has confirmation via a retest.
When in doubt: look to the S&P for guidance. Highly-correlated.
I don't see below $1700ish and next major significant low to break through is in the mid-$2400s.
A low below that and next week might bring us to the $1700 range.
Sorry for the sloppiness, I cannot seem to grok T/V's idea publishing system.
Kommentera:
Kommentera:
Inverse Head and Shoulder just evolved into Head and Shoulders.
This is a good reason to wait for a breakout before placing a trade.
At an intersection right now in the very short-term trend-kind-of-way and this looks like it wants to continue dowwwwwwwn....
This is a good reason to wait for a breakout before placing a trade.
At an intersection right now in the very short-term trend-kind-of-way and this looks like it wants to continue dowwwwwwwn....
Was eyeing the following for a pattern trade on the I H+S but it looks a lot less promising now.
Expecting choppy range trading in the triangle of the original chart possibly back up to $2600 (+?) before falling down toward $2000 - $2300 range and likely retesting the $1700 support next week if the equity markets continue their drawdown.