ETH Update (I was wrong)
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Hello guys, little update about ETH. In my last post, I saw a H&S formation on the H4 charts and it had me worried about the futur direction of ETH. After a couple days analyzing, seeing how ETH doesn't want to break below the trend and confirm the neckline. I decided to make a little update showing what I see :
1 - 206,20 looks like a good support and might even be a bottom for now.
2 - Third hit on my trend line, confirm it.
3 - Price is squeezing, waiting for a breakout above white line.
4 - we can still break trend line and drop to 206,20 resistance and confirm H&S pattern.
So basically, since I miss the entry on 3rd trend line hit, I'm going to be sitting on the side until a breakout happen either up or down. I will update this chart when something major happen. If you think I'm wrong, which might be the case, or want to bring positive criticism, feel free. I'm here to learn and be a better trader everyday.
Have a great day,
vOid
1 - 206,20 looks like a good support and might even be a bottom for now.
2 - Third hit on my trend line, confirm it.
3 - Price is squeezing, waiting for a breakout above white line.
4 - we can still break trend line and drop to 206,20 resistance and confirm H&S pattern.
So basically, since I miss the entry on 3rd trend line hit, I'm going to be sitting on the side until a breakout happen either up or down. I will update this chart when something major happen. If you think I'm wrong, which might be the case, or want to bring positive criticism, feel free. I'm here to learn and be a better trader everyday.
Have a great day,
vOid
Note
I'm seeing a golden cross on the M30 after the move of 17:00PM EST.But the golden cross looks weak...Note
Hammer on H1 chart ?Note
Little update on the 50 > 200 cross and the Hammer on H1 chart. So like I said the move look really weak and was indeed weak. There was a shooting star following up the weak advance which mean it's about to drop and as you can see it did right after. 3 hours later, there another Hammer forming ?
Note
We touch the trend a third time, confirming it.
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