Ethereum - Impulse · Correction · Impulse 🔥

In our last Eth analysis we explained how there will be another correction appearing soon, which we got now.

There are 2 main phases which can be clearly seen, Impulse and Correction. Our job as traders is to identify the corrections so we can catch the big impulse moves. However, we can also trade the correction whilst we get ourselves ready for the impulse.

We had an ascending trendline (red) in place to indicate when the impulse is over and when the correction begins. Price broke the ascending trendline impulsively, indicating that the impulse has ended and we are now seeing the correction.


Trade Idea:
- Watch for price to pullback to the structure level indicated
- Enter shorts when there's a rejection with stops above the rejection
- Target the ascending trendline where we have multiple confluences for the next impulse move

See the linked chart for our previous Ethereum analysis.

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