Never Sell into Support! We can observe due to candle closures that we may return to previous day's lows at 1842 and ultimately 1824. The 8Hr and the 4Hr timeframes have just closed bearish after some rather large engulfing candles have printed on the Daily TF's and the weekly candle is closing in 7 hours. We may drop further on the Daily to somewhere around 1809 but we must see volume and maybe a break and retest below 1850 on the 30m TF if we can get that far. Selling into to support can be hazardous. Price may respect 1850 and continue to range. Always maintain a good risk/reward. At least 3:1 R walking into the trade. Also the RR changes throughout a trade.
Trade closed: target reached
target reached on Scalp as the 1hr candle clsoes below 1860, may may see more downside from here back to our daily level at 1850 and further to 1840 4Hr ZoneNote
Tapped back into daily level at 1850Note
Tapped into 1840. Closed below 1850 Daily level on the 1Hr Timeframe. New 1Hr has thrown up a wick rejecting Daily Level as planned out previously. We can observe a break and retest of 1850 Daily level. (Check Above )
Note
asian session has opened and taken us back up to retest the 4hr zone at 1882 once more. Still Favoring sells if we hold 1882 top of rnage resistance zoneNote
Eth Still Holding 1850, NYSE Open Monday Morning. Returned to 1827 yesterday, not quite 1824 which was prev Weekly Low but close enough --> Note
For Buyers would like to see hold of 1850 Daily Level and 1840. ( Continue to see cnaldes printing above these areas, preferably 1850) Sellers want to see the next 4Hr Candle for Monday NY session close below 1850. It is a benefit for buyers to see these pin bar 4hr candles closing above 1850.Note
Price has just Hit TP at 1824 after coming back up for one more retest at our 4hr level 1876. Price aslo reached the next Daily Level 1822 and the next 4hr Zone at 1809. We got the bearish leg that we were anticipating with the new weekly candle
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.