Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
As per my last analysis (attached below), we were waiting for the bulls to take over, by first rejecting the support then breaking above the upper gray trendline.
However, the bulls were too strong and broke the gray trendline before forming the third swing around it as per my trading plan.
UPDATE: ETH is now forming a potential big inverse head and shoulders pattern, marked by orange arcs.
For the bulls to take full control, we need a momentum candle close above the gray neckline which covers the entire pattern/structure.
Meanwhile, until the bulls take full control, the bears can still kick in to form an over-extended right shoulder.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck
All Strategies Are Good; If Managed Properly!
~Rich
As per my last analysis (attached below), we were waiting for the bulls to take over, by first rejecting the support then breaking above the upper gray trendline.
However, the bulls were too strong and broke the gray trendline before forming the third swing around it as per my trading plan.
UPDATE: ETH is now forming a potential big inverse head and shoulders pattern, marked by orange arcs.
For the bulls to take full control, we need a momentum candle close above the gray neckline which covers the entire pattern/structure.
Meanwhile, until the bulls take full control, the bears can still kick in to form an over-extended right shoulder.
Which scenario do you think is more likely to happen? and Why?
Always follow your trading plan regarding entry, risk management, and trade management.
Good Luck
All Strategies Are Good; If Managed Properly!
~Rich
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
📊I help you turn charts into a career
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
theSignalyst.com
Telegram
t.me/thesignalyst
Trusted Crypto Exchange
cutt.ly/qtwKuPaJ
Trusted CFD Broker
cutt.ly/TickmillReal
Trusted Crypto Prop Firm
cutt.ly/Hyrotrader
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.