Evening Traders,
Today’s analysis – ETHUSDT- trading in a speculative gartley pattern where a break down for the C leg is probable,
Points to consider,
- Price Action Impulsive
- VWAP S/R Resistance
(.618 Fibonacci and 200 MA Confluence)
- 1.272 Extension Target
- Low Volume
ETHUSDT’s immediate price action is trading in a potential internal bearish harmonic pattern with the c wave being the current objective, allowing for a short bias.
The current trade location is Valid as resistance stems from the VWAP S/R and the 200 MA S/R, trading below here is considered bearish.
The current volume profile is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” Yvan Byeajee
Today’s analysis – ETHUSDT- trading in a speculative gartley pattern where a break down for the C leg is probable,
Points to consider,
- Price Action Impulsive
- VWAP S/R Resistance
(.618 Fibonacci and 200 MA Confluence)
- 1.272 Extension Target
- Low Volume
ETHUSDT’s immediate price action is trading in a potential internal bearish harmonic pattern with the c wave being the current objective, allowing for a short bias.
The current trade location is Valid as resistance stems from the VWAP S/R and the 200 MA S/R, trading below here is considered bearish.
The current volume profile is below average, an influx is highly imminent when an expansion occurs.
Overall, in my opinion, ETHUSDT is a valid short with defined risk, price action is to be used upon discretion/ management.
Hope this analysis helps,
Thank you for following my work
And remember,
“Trading doesn't just reveal your character, it also builds it if you stay in the game long enough.” Yvan Byeajee
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Unlock Blofin Bonuses
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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.
Join the Free Trading Group
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
Telegram: t.me/freetradingden 🔥
Unlock Blofin Bonuses
Trade with perks & support the community!
blofin.com/invite/alchemisttrader 🎁
Stay sharp, trade smart.
— Team The Alchemist ⚔️
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.