Today we will update our previous idea on Ethereum. Remember, you must understand the logic behind any analysis and be able to take your conclusions.
Main items we can see on the Daily Chart:
a)The price is making a corrective structure pretty similar to the one we observed on the past
b)That gives us substantial clues to forecast a bullish motive wave coming after the breakout of it.
c)From the lower zone of the corrective structure we project a 70% bullish potential towards the next resistance zone
d)If you are a Swing Trader, you can wait for the breakout of the structure and wait for a clear Throw-back as a filter for setting long orders (check the bitcoin post on related ideas to understand this concept)
e)Remember, Patience is vital; don't rush your decisions and always wait for clear signals before trading. It is better to lose an opportunity and have your money intact than rush on a trade setup and affect your capital and your mental strength due to a wrong decision.
Main items we can see on the Daily Chart:
a)The price is making a corrective structure pretty similar to the one we observed on the past
b)That gives us substantial clues to forecast a bullish motive wave coming after the breakout of it.
c)From the lower zone of the corrective structure we project a 70% bullish potential towards the next resistance zone
d)If you are a Swing Trader, you can wait for the breakout of the structure and wait for a clear Throw-back as a filter for setting long orders (check the bitcoin post on related ideas to understand this concept)
e)Remember, Patience is vital; don't rush your decisions and always wait for clear signals before trading. It is better to lose an opportunity and have your money intact than rush on a trade setup and affect your capital and your mental strength due to a wrong decision.
