September 28, 2022
  • September 28, 2022

Ethereum technical analysis and trade idea

By on September 11, 2022 0

ETHEREUM TECHNICAL ANALYSIS and TRADE IDEA for September 11, 2022

  • This article presents a technical analysis of the 9/11 Ethereum trading against the US Dollar
  • We have a channel which is also a bullish flag on the daily timeframe. The green arrows in the video point to the lower frequency band, while the red arrows indicate the higher frequency band
  • Cryptocurrencies have followed the bullish trend in the stock market and are showing signs of recovery. Even if it’s only temporary, it’s still valuable enough to trade
  • Given that we are no longer in the early stages of the recent rally, it proved quite difficult to come up with a viable business idea. But, I’ll give you one anyway. The objective is to fill at a lower price and then go long with 2:1 leverage
  • Many auto trading systems and human traders set stop losses near the daily 20 EMA. Institutions want to stop Longs there, and we will try to fill our order there
  • The entry price is $1636.42. With a stop loss set at $1457 and a profit target of $1995, this trade has a risk/reward ratio of 2 to 1
  • Bitcoin traders can also follow this technical analysis and find a similar trade, especially when ETH is leading the market, currently
  • Ethereum trading is a high risk business, so do your own research. Have a great week, and please visit ForexLive.com Technical Analysis for more insightful analysis