12.04.202315:08 Forex Analysis & Reviews: Trading tips for Ethereum

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The pullback in Ethereum, which followed a very sharp growth early this week, left an area of seller liquidity at 1940.

So now, there is a three-wave pattern (ABC) where wave A represents the buying pressure from early this week. Traders can enter the market by opening long positions from the 50% retracement level, with stop-loss set at 1828. Exit the market by taking-profit upon the breakdown of 1940.

The trading idea was based on the "Price Action" and "Stop Hunting" methods.

Good luck and don't forget to control the risks! Have a nice day.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.