On this occasion, and fully linking with our article of July 27, 2021, we have the ETH cryptocurrency in sight again.
2547 $ level 161.8%
Technical indicators used:
-Means of 34 exponentials applied to the highs, closes and lows.
What we consider the market cycle.
-Histogram of the macd. OsMa. Our indicator for the moment.
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Traders, Ethereum remains above its Buying Zone market cycle.
Of the first calculated line, 161.8% was reached.
The Risk reward table according to the proposed entry 78.6% 50% would be the following:
As a possibility, we have to close our first position in the cryptocurrency at a practically 1: 3 level at 161.8% (Figure 1 of July 27)
The next operation that we could propose is the following, Figure 2 current:
ETH has fractured a new high pivot line above the $ 2,685 level. We would have a purchase order, above the 78.6% level of quotation of 2482, with Stop losses in the market cycle, sales area, where the proposed purchase operation would be totally invalidated. Fiboncacci level 50% $ 2205.
We must wait for that small setback to our risk control areas, to continue long in the cryptocurrency Ethereum, with the Risk control fully defined.
The risk reward of the operation is determined by the Risk reward table above.
Risk Control in the #Traders zone!
Professional Trader and collaborator of @forexAnalytix
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