ETHUSD bullish reversal heading towards decision zone
ETHUSD reversed strongly and is heading towards resistance at about 2830.
Opportunities:
1. if long stay long and look to take profit at resistance. If we break through its an oppurtinity to re-long into the next price level, which should settle between 2800 - 3600
2. Look to build a short position in the "Short zone" with a tight stop above 2830
3. If you have no position, wait for the price to fall back into the neutral zone and hedge short/long. look to take profit at support around 2100 and resistance around 2800
Opportunities:
1. if long stay long and look to take profit at resistance. If we break through its an oppurtinity to re-long into the next price level, which should settle between 2800 - 3600
2. Look to build a short position in the "Short zone" with a tight stop above 2830
3. If you have no position, wait for the price to fall back into the neutral zone and hedge short/long. look to take profit at support around 2100 and resistance around 2800
Anmerkung
Identified a channel of support/resistance at 2520 <-> 2560. Look for a bounce off this area to go long towards major resistance at 2800Anmerkung
Hoping all those who were long took profits in the "Short Zone" and reversed their trade, there was a very small window to do so. We have now retraced to the mid point of the range, where it would be wise to hedge a position.Anmerkung
The zones have been working perfectly, hoping all who saw this traded accordingly. set tight stops for any shorts placed at the 2830 level, as the market is showing strong bullish signs going into the US election.
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