ETHUSD - Sideways a bit then expecting a Breakout- Formed a symmetrical formation to show an indecision for further correction or resume uptrend as following higher timeframe charts
- It depends on your trading style to call for an early bias when price breaks up with aggressive entry or passive one
- A break through to 770 would confirm an uptrend structure and price could go much further
- Anything below 770 still keep trend in consolidation and turn pattern into other forms such as ascending triangle - another consolidation form.
- You can trade in lower timeframe for Buying Low and Selling High during a ranging day like this
Setupoftheday
Actually Position - Long Opportunity Chart: Daily
If you look at the weekly chart, you can see that we have a strong long trend. So I think the next big movement could be the continue of the trend. Thats why I placed a Market Order, and now we just have to wait! Maybe we know more after the big economic event on Thursday in Europe or on Friday in Japan!
Stay tuned!