ETHUSD is in the wide balance now.
The price is consolidating under the level 850. That often indicates a possible breakout. Also every minimum of the price is higher than the previous one.
But If false break out happens and the price will return back into the balance you need to close position immediately.
Trade recommendation:
Entry point: 855 (buy stop)
Stop: 765
Target1: 960
Target2: 975
Target2: 1000
Glossary of terms
The price is consolidating under the level 850. That often indicates a possible breakout. Also every minimum of the price is higher than the previous one.
But If false break out happens and the price will return back into the balance you need to close position immediately.
Trade recommendation:
Entry point: 855 (buy stop)
Stop: 765
Target1: 960
Target2: 975
Target2: 1000
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
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