ETH...Still Cake and Ice cream left..Entry & Exit short position
GeekChartZ (Chart reading made Simple)
...please Like and Follow
GeekChartZ (Chart reading made Simple)
...please Like and Follow
Do not Worry fellow Americans and people around the world you can still have your cake and ice cream but remember not to dance until the beat drops!
As I am writing this post the ETH price is almost at 216 and I would do one of two things to get my cake and ice cream...
A) For a novice trader put in a market order for short and place stop loss at minimum at 230.
b) advanced traders can wait for price to climb up a few more points and set limit order around 220 ish price level no guarantee must watch market. stop loss over 230!
Entry & Exit Short Opportunities
Entry Position (Short).... Supply zone 215-225....stop loss over 230 minimum..please note 230 is our resistance level and want to put stop loss over this level
Try to enter short position closest to the resistance line and 230
Exit positions............. Support zone 157-154
What is happening with ETH???
Resistance -
is the opposite of a support level. It is where the price tends to find resistance as it rises. Again, this means that the price is more likely to "bounce" off this level rather than break through it.
However, once the price has breached this level, by an amount exceeding some noise, it is likely to continue rising until meeting another resistance level.
place stop loss over resistance line
Trend line-
A downtrend, which is a series of lower highs and lower lows
Chart pattern-
(Drop base Drop)
Bearish pattern continuation pattern.... you want to be short!
price action-
Banks and Institutions are selling on the Drop base Drop
...please Like and Follow
GeekChartZ (Chart reading made Simple)
...please Like and Follow
Do not Worry fellow Americans and people around the world you can still have your cake and ice cream but remember not to dance until the beat drops!
As I am writing this post the ETH price is almost at 216 and I would do one of two things to get my cake and ice cream...
A) For a novice trader put in a market order for short and place stop loss at minimum at 230.
b) advanced traders can wait for price to climb up a few more points and set limit order around 220 ish price level no guarantee must watch market. stop loss over 230!
Entry & Exit Short Opportunities
Entry Position (Short).... Supply zone 215-225....stop loss over 230 minimum..please note 230 is our resistance level and want to put stop loss over this level
Try to enter short position closest to the resistance line and 230
Exit positions............. Support zone 157-154
What is happening with ETH???
Resistance -
is the opposite of a support level. It is where the price tends to find resistance as it rises. Again, this means that the price is more likely to "bounce" off this level rather than break through it.
However, once the price has breached this level, by an amount exceeding some noise, it is likely to continue rising until meeting another resistance level.
place stop loss over resistance line
Trend line-
A downtrend, which is a series of lower highs and lower lows
Chart pattern-
(Drop base Drop)
Bearish pattern continuation pattern.... you want to be short!
price action-
Banks and Institutions are selling on the Drop base Drop