Position: Leaning Bearish
Right now ETH has gone into consolidation in this 600-630 range. Kinda cool, I didn't have to adjust any of my support or resistance lines really to illustrate this, they have all held up pretty well. Before we get to set ups, Lets look at what its doing on the larger time frames:
Daily chart:
1. MACD starting to level off
2. RSI going back down
On this 4 hour chart you can see RSI is in the middle while MACD has been moving down, but hasn't crossed into negative territory yet.
I did mention that this 600 zone had some support, if you bought in there, take note of what could happen to determine where your stop will be.
Potential set ups:
1. Trading the break above 650 - I am really hesitant on this set up because it's going to be hitting this massive resistance zone. Which means you want to keep a tight stop. Maybe we just channel from 600-700 for a bit? Or it's just retracing before a move back down? Hard to tell right now
2. Trading this range. You could possibly flip it when it moves down to the 580 area.
3. Buy zone at this 520 area for a move or bounce up.
Happy Trading,
-Shererm
Right now ETH has gone into consolidation in this 600-630 range. Kinda cool, I didn't have to adjust any of my support or resistance lines really to illustrate this, they have all held up pretty well. Before we get to set ups, Lets look at what its doing on the larger time frames:
Daily chart:
1. MACD starting to level off
2. RSI going back down
On this 4 hour chart you can see RSI is in the middle while MACD has been moving down, but hasn't crossed into negative territory yet.
I did mention that this 600 zone had some support, if you bought in there, take note of what could happen to determine where your stop will be.
Potential set ups:
1. Trading the break above 650 - I am really hesitant on this set up because it's going to be hitting this massive resistance zone. Which means you want to keep a tight stop. Maybe we just channel from 600-700 for a bit? Or it's just retracing before a move back down? Hard to tell right now
2. Trading this range. You could possibly flip it when it moves down to the 580 area.
3. Buy zone at this 520 area for a move or bounce up.
Happy Trading,
-Shererm
註釋
Please smash that like button if this helps, appreciate it.註釋
as an FYI here is what I saw on my last ETH post - 
交易進行
filled above 650交易進行
If we continue up this session, this 670 area should provide the support do it. We are in this heavy resistance zone though, putting a tight stop on this just below to lock in profits.交易結束：達到停損點
Stop hit, out with some profit. This was a higher risk trade and I am fine with getting out of this trade until we find more direction. On the 1 hour chart, we have been leveling off and not really creating a higher high. Something to be mindful of, all though it could be a bull flag. Either way, the play for me is over.
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