The price proves that it's going up by ignoring the bottom line of the ascending triangle. (Which is acting as trend line too)
The idea behind of this chart is to show Profit Targets and how to get these Profit targets. Remember one color presents one pattern + target. Let's take a look at symetrical triangle: Draw vertically a line from the highest point of the pattern next to the lowest point. The line we just draw gives us the length of the target. Move this line to the break out point. Where the price has breached top line of the pattern. Where this line ends is giving pointers where the price might be heading to.
Tadah!
My previous trading ideas of Ethereum can be found from my tradingview account and some of them are still active. (Long term trades as they are) So feel free to check them out!
To play safely we need to use stop losses in case something goes wrong. Note this is a long term trade! Requires patience and flexibility to adjust the sails of the market movement. Be careful while trading! Always be cautious of things, trends and events what's happening around the current crypto you are trading. They may have big impact on the price movement!
Any questions or need help? Feel free to leave comments and feedback!
Yarr!
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Is hovering near to our first target
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First target breached!
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Close to resistance line
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Ethereum might need a small correction before seeing further upward movement. RSI is indicating that there might be forming bearish divergence which would take us back to our support levels before moving further upwards. Green box indicates our next profit target area! :)
The pattern that's active at the moment is the symmetrical triangle which is known from it's explosiveness after it breaks out of the pattern.
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Target #2 hit
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Be watchful while trading.
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The price breached bottom line of the pattern. New buy opportunities should be opened based on confirmed reversal signals. A possible reversal zone is between of 420 & 402 levels. 450 support level will be tested.
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Slightly touched green area. New positions should be opened based on confirmed reversal signals.
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New TA! Trend is about to change. Remember to read the description aswell! :)
@akashdp, yes long term and if something does not go wrong.
Anoinvest
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Perfect TP2 ! Nice one. Thanks for your work
yarr
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@Anoinvest, Thanks for your kind words! Hopefully you enjoyed ta! :)
rony.kris
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Your TAs are excellent. I make sure not to miss your posts, either here or on your telegraph channel. Keep up the good work. By the way I had a quick question, is it worth while going long at 351, 371 support levels? Is that what you mean by the correction?
yarr
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@rony.kris, Thanks for being part of the channel and your words! I need to do another TA about ethereum.. :)
keep up the good work !!
Thank you