ETH - Deja Vu🦋

Hello TradingView Family / Fellow Traders,

For those who know me, I always enjoy studying previous price action.

📌Today, I want to share an interesting pattern I found on ETH.

Back in Summer 2021, ETH experienced a parabolic bullish impulse (depicted in blue), followed by a correction (shown in purple) to reject the $3000 support before commencing another bullish impulse movement.

If we apply the same logic to the current price action, ETH is currently in the correction phase, rejecting the $3000 support.

Thus, I will be looking for buy setups on lower timeframes, speculating on the next bullish impulse movement.

Of course, this pattern will be invalidated if the $3000 mark is broken downward.

🗒 What do you think? Will history repeat itself?

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

And always remember:
All Strategies Are Good; If Managed Properly!
~Rich