Ethereum (ETHUSD) is currently trading in a descending triangle on H4, but it presents us with micro trend bullish trade opportunity on H1.
Price reversed from the descending triangle support/demand zone and broke above resistance 203.52.
Now that price has made a short-term high we are expecting a retest of the broken level as support before further upside move.
Considering that price is already making a correction to our confluence level which consists of resistance turn support level, 61.8 Fib ratio, and mean value, once price reached this level we will able to go long on this pair after a proper counter trend line break.
If you want more trade idea like this kindly follow me and also check out @TheKissForex on Instagram for setup update.
Price reversed from the descending triangle support/demand zone and broke above resistance 203.52.
Now that price has made a short-term high we are expecting a retest of the broken level as support before further upside move.
Considering that price is already making a correction to our confluence level which consists of resistance turn support level, 61.8 Fib ratio, and mean value, once price reached this level we will able to go long on this pair after a proper counter trend line break.
If you want more trade idea like this kindly follow me and also check out @TheKissForex on Instagram for setup update.