Traders,
Here we have ETHUSD 1D chart.
The rising and falling wedge patterns are similar in nature to that of the pattern that we use with our breakout strategy. However because these wedges are directional and thus carry a bullish or bearish connotation.
Here with EThereum we have a perfect wedge, but we have many important points to discuss:
1-vol makes anybody be confused to believe it or not especially that we had many many ico scams for ETH nowadays.
2-Retesting may lead us to form a bearish H&S that will lead us to lower low again.
3- VP created a strong resistance equals the biggest one on POC point.
4-After touching 200$ level we need to look sharply to watch any hooks that will lead to a Perfect Breakout stops at 1st red box and catch the retest from there.
5-Again catch the retest of the wedge not the break point.
This chart made me remembering this idea:
Regards,
Mohsen
Here we have ETHUSD 1D chart.
The rising and falling wedge patterns are similar in nature to that of the pattern that we use with our breakout strategy. However because these wedges are directional and thus carry a bullish or bearish connotation.
Here with EThereum we have a perfect wedge, but we have many important points to discuss:
1-vol makes anybody be confused to believe it or not especially that we had many many ico scams for ETH nowadays.
2-Retesting may lead us to form a bearish H&S that will lead us to lower low again.
3- VP created a strong resistance equals the biggest one on POC point.
4-After touching 200$ level we need to look sharply to watch any hooks that will lead to a Perfect Breakout stops at 1st red box and catch the retest from there.
5-Again catch the retest of the wedge not the break point.
This chart made me remembering this idea:
Regards,
Mohsen
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