ETHUSD Potential for Bearish Continuation | 18th November 2022
On the H4 chart, the overall bias for ETHUSD is bearish. To add confluence to this, price is below the Ichimoku cloud which indicates a bearish market. With the price tapping into our pullback sell entry at 1348.97, where the 23.6% and 61.8% Fibonacci lines are. Stop loss will be set at 1502.68, where the 38.2% Fibonacci line is. I am looking to take profit at 1064.49, where the -27.2% Fibonacci expansion line and 127.2% Fibonacci extension line intersects.