Short trade idea on Ethereum (ETH/USD) by ThinkingAntsOk4H CHART EXPLANATION:
We observe that price is making a corrective movement, and there is a clear Head and Shoulders pattern. This is a potential short setup, but we must wait for a breakout of the neckline to confirm the trade, since the macro vision is long and this is just a short term trade.
Daily vision:
ETH-USD
ETHUSD approaching support where a rally might occurPrice is approaching our first support (breakout level, horizontal overlap support) where we might see a further rise in price to our first resistance (horizontal pullback resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
"Top and Bottom Analysis" ETHEREUM (ETH/USD) by ThinkingAntsOkLast week we posted the triangle pattern before the upside movement! Link on related ideas.
4H CHART EXPLANATION:
Price broke the triangle pattern upside, so we can expect a bullish movement towards the Resistance Zone at 360. Anyway, there may be some corrective movements on the way, so if you trade it, you should place your stop loss in a safe place to avoid the market volatility.
Updates coming soon!
MULTITIMEFRAME VISION:
-Daily:
-Weekly:
ETHUSD approaching support where a rally might occurPrice is approaching our first support (breakout level, horizontal overlap support) where we might see a further rise in price to our first resistance (horizontal pullback resistance, 61.8% Fibonacci extension, 38.2% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
"Top and Bottom Analysis" ETH/USD by ThinkingAntsLast week we have posted this chart before correcting. You can check it on related ideas.
4H CHART EXPLANATION:
As we can observe, price broke the Daily descending trendline, the Wedge Pattern and the Resistance Zone with a strong upside movement. Now it is facing the Resistance Zone at 250 and making a corrective structure to continue the bullish movment. We will take long positions if price breaks the triangle upside.
Updates comming soon!
MULTITIMEFRAME ANALYSIS:
Weekly:
Daily:
"Trade Idea" LITECOIN (LTC/USD) by ThinkingAntsOk1H CHART EXPLANATION:
As we explained on the 4H timeframe, price is now on a corrective structure of the previous upside movement. We can observe that is on a Triangle Pattern, so we will wait for a breakout to take long positions towards the next Resistance Zone.
4H CHART:
*Please note that the above perspective is our view on the market, we do not provide signals and take no responsibility for your trades.
"Top and Bottom Analysis" ETH/USD by ThinkingAntsOk4H CHART EXPLANATION:
On 4H timeframe we observe that price broke out the Descending Trendline and the Ascending Wedge. It started an upside movement and now it is facing the Resistance Zone at 250. We expect a little correction here to continue the upside movement towards the Daily Resistance Zone at 360.
Updates comming soon!
MULTI TIMEFRAME VISION:
- Weekly:
- Daily:
ETHUSD broke resistance, potential for further rise!
Price is approaching our first support at 183.95 (horizontal overlap support, 23.6% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce to our major resistance (horizontal pullback resistance, 38.2%Fibonacci retracement, 61.8% Fibonacci extension).
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD broke resistance, potential for further rise! Price is approaching our first support at 183.95 (horizontal overlap support, 23.6% Fibonacci retracement, 100% Fibonacci extension) where a strong bounce to our major resistance (horizontal pullback resistance, 38.2%Fibonacci retracement, 61.8% Fibonacci extension).
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Ethereum is ready to the RALLY, end of down trend is SOON!!!!Usually In technical analysis the last move after break out of the triangle is final move before the trend reversal.
One of the reasons of following behavior - triangle is usually pattern of the wave 4 by Elliot count, breakout is wave 5 and after that we have an ABC correction or higher time frame trend reversal.
ON ETH/USD daily chart We see the price was breached out from the triangle and reversed exactly on it target (100% of the triangle height).
Also we have massive volume increasing => it is a sign of a lot of buyers.
I will update this idea!
Good luck!!!
p.s. For the possible targets of this perfect trade idea you can look my previous analysis
A trading opportunity to buy in ETHUSDMidterm forecast:
While the price is above the support 162.650, beginning of uptrend is expected.
We make sure when the resistance at 264.800 breaks.
If the support at 162.650 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
While the RSI support #1 at 44 is not broken, the probability of price decrease would be too low.
A trough is formed in daily chart at 148.700 on 04/26/2019, so more gains maximum to Major Resistance (264.800) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 74.
Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (187.50 to 162.65). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (187.50)
Ending of entry zone (162.65)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 264.800
TP2= @ 309.100
TP3= @ 348.800
TP4= @ 393.550
TP5= @ 475.300
TP6= @ 534.700
TP7= @ 630.500
TP8= @ 822.550
TP9= @ 970.450
TP10= @ 1229.700
TP11= @ 1415.950
TP12= Free
ETHUSD reversed off resistance, potential for further drop! ETHUSD reversed off our first resistance (horizontal overlap resistance, 61.8% Fibonacci extension) where a strong drop might occur to our major support (100% Fibonacci extension, horizontal swing low support). Stochastic is approaching resistance as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD reversed off resistance, potential for further drop! ETHUSD reversed off our first resistance (horizontal overlap resistance, 61.8% Fibonacci extension) where a strong drop might occur to our major support (100% Fibonacci extension, horizontal swing low support). Stochastic is approaching resistance as well.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD approaching support, potential for bounce!ETHUSD is approaching our first support at 163.68 (horizontal overlap support, 100% Fibonacci extension, 61.8% Fibonacci retracement) where we might be seeing a strong bounce to our major resistance level at 178.93 (horizontal swing high resistance). Stochastic is approaching support where we might be seeing a bounce above this level.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
ETHUSD approaching resistance, potential drop!ETHUSD is approaching our first resistance at 176.86 (horizontal overlap resistance, 61.8% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur to our major support at 159.33 (horizontal swing low support, 61.8% Fibonacci extension).
Stochastic is also approaching resistance where we might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.