Similarly to Bitcoin, Ethereum is approaching a critical zone where we'll be looking to buy.
We require the current wave to move lower than the 3rd wave completion (900) for it to be a valid wave 5. However, in the rare (very rare) cases, it may be a truncated wave 5 where wave 5 doesn't create a lower low.
Trade Idea:
- Watch for price to move below 900
- Once we're below 900, watch for bullish reversal signs such as trendline breaks, BOS
- The invalidation level is 350. The closer we get to 350, the smaller SL we'll be able to use
- Targets: 4500, 5600, Manual exit rest of position
Goodluck and as always, trade safe!
We require the current wave to move lower than the 3rd wave completion (900) for it to be a valid wave 5. However, in the rare (very rare) cases, it may be a truncated wave 5 where wave 5 doesn't create a lower low.
Trade Idea:
- Watch for price to move below 900
- Once we're below 900, watch for bullish reversal signs such as trendline breaks, BOS
- The invalidation level is 350. The closer we get to 350, the smaller SL we'll be able to use
- Targets: 4500, 5600, Manual exit rest of position
Goodluck and as always, trade safe!
Want more chart ups like this? Click the links below:
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Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.
Want more chart ups like this? Click the links below:
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Free Telegram: t.me/Wicktator
Forex VIP: t.me/WicktatatorVIP_bot
Related publications
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.