I'm making a profit-based trade
on an extended 9-day moving average pushing south.
also around the price $1580 and 50 ma that I assume is going to hold as support. If that breaks to support the next move would be a the bottom of the rectangle and approaching the 200-day moving
my moving averages are in the chart as 9ma white 50 ma blue and 200 ma red ... if we continue on a downtrend I expect to test the 200 ma ... around the $1430 price area ... This is a pivotal point for ETH as we cross the 200 ma recently ...
In the rectangle pattern you look for the break out ... now that break out can be the top or bottom of the box and it is strong because rectangle patterns are constrictive ...
I like watching and trading on formations and will update you guys as we confirm the formation or break into a new one ...
on an extended 9-day moving average pushing south.
also around the price $1580 and 50 ma that I assume is going to hold as support. If that breaks to support the next move would be a the bottom of the rectangle and approaching the 200-day moving
my moving averages are in the chart as 9ma white 50 ma blue and 200 ma red ... if we continue on a downtrend I expect to test the 200 ma ... around the $1430 price area ... This is a pivotal point for ETH as we cross the 200 ma recently ...
In the rectangle pattern you look for the break out ... now that break out can be the top or bottom of the box and it is strong because rectangle patterns are constrictive ...
I like watching and trading on formations and will update you guys as we confirm the formation or break into a new one ...