Ethereum Fibonacci Levels!

12 Jan 2021

This chart is an extension of my last idea. I drew the Fibonacci retracement from the last high to the recent low and it coincidentally matches up with my T/A.

I'm even more confident with my idea now if this plays out; nice profit!


Trade safe with a stop loss, the stop loss on this chart is just below the previous low in case we form a double bottom pattern, I shall be looking out for this in addition to a pin bottom reversal. In order to identify this pattern, there must be a rejection of lower prices that gives traders the impression that the price will return to an uptrend.

12 Jan 2021

Catatan

If you're new to trading then realise, you shouldn't enter a trade while the market is moving up. Entering at these low levels has shown consistent results with my strategies in a bull market.

13 Jan 2021

Catatan

We made a nice higher low!

13 Jan 2021

Catatan

Looking like we may have seen a bounce at the .5 fib