Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per our last ETH analysis, we have mentioned that potential Bullish Megaphone pattern forming.
According to the pattern, we are currently on leg #5
🏹 For the pattern to get activated, hence the bulls to remain in control, we need a daily candle close above 1720
In this case, further bullish movement would be expected.
In parallel, we are still bearish from a medium-term perspective since we broke below the last major low in gray from H4.
ETH approaches the blue support starting from 1550, we will be looking for new short-term buy setups.
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
As per our last ETH analysis, we have mentioned that potential Bullish Megaphone pattern forming.
According to the pattern, we are currently on leg #5
🏹 For the pattern to get activated, hence the bulls to remain in control, we need a daily candle close above 1720
In this case, further bullish movement would be expected.
In parallel, we are still bearish from a medium-term perspective since we broke below the last major low in gray from H4.
ETH approaches the blue support starting from 1550, we will be looking for new short-term buy setups.
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