ETHUSD Analysis 23/12/2021 1hr
Update from previous idea:
WE'RE IN! if anyone seen this chart and took a trade with it then all of the buys were hit and now its juts about holding this level and moving up. being patient and sticking buys down lower a couple days ago did not look like a likely scenario but price had liquidity down there and action moved down to catch it.
if you notice I put a buy just below the support box because that is a common tactic does by the market maker, a lot of people will be watching the same level so to have a buy below on the chance theres a wick, so we put the buy where most people have a SL.
so take away the long position currently and you can see we have flipped the 0.414 as resistance now so that will be the first obstacle of the day. but remember the more times we test it the higher the chance of a breakout.
TP1 is just below the previous high which we hit only yesterday so that range is 100% achievable, TP2 is betting on a break of that level, once we get higher SL can be moved to TP1 guaranteeing profit.
WE'RE IN! if anyone seen this chart and took a trade with it then all of the buys were hit and now its juts about holding this level and moving up. being patient and sticking buys down lower a couple days ago did not look like a likely scenario but price had liquidity down there and action moved down to catch it.
if you notice I put a buy just below the support box because that is a common tactic does by the market maker, a lot of people will be watching the same level so to have a buy below on the chance theres a wick, so we put the buy where most people have a SL.
so take away the long position currently and you can see we have flipped the 0.414 as resistance now so that will be the first obstacle of the day. but remember the more times we test it the higher the chance of a breakout.
TP1 is just below the previous high which we hit only yesterday so that range is 100% achievable, TP2 is betting on a break of that level, once we get higher SL can be moved to TP1 guaranteeing profit.
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