ETHFIUSDT: long setup from daily resistance at 1.6776
ETHFIUSDT.P has a strong historical level that saw a false breakout yesterday and today.Considering how long ago this level was formed and the fact that the price is testing it almost to the tick today, I am 99.99% sure that this is a level one not only can, but must work with.
I am expecting a breakout to the upside.
The lower timeframe looks very good: the price is gradually squeezing towards the level, making a smaller pullback each time.
Key factors for this scenario
- Global & local trend alignment
- Correlation with the market
- Volatility contraction on approach
- Immediate retest
- Prolonged consolidation
- Repeated precise tests of the level
- No reaction after a false break
Nota
The asset continues to consolidate confidently below the level.
There was an attempt to drop, but the price was quickly pushed back to the same level.
Nota
A false breakout of the level has occurred.
This move was accompanied by very high volatility, during which one should not enter the market; therefore, objectively, there was no entry point.
Currently, the asset has pulled back from the level, which is a logical reaction to this false breakout.
I continue to monitor the asset and am keeping it on the watchlist, as this downward move could be bought up quickly.
Follow for updates.
Ordine annullato
The scenario is invalidated as the asset has moved too far away from the key level.Removing this asset from the watchlist.
Nota
It's worth noting that the level remains relevant.I see the asset gradually approaching it again, so ETHFIUSDT may soon return to the watchlist.
Focusing on the balance between buyers and sellers at key S/R levels.
Trading Journal: t.me/The_Traders_House
Trading Journal: t.me/The_Traders_House
Pubblicazioni correlate
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Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Focusing on the balance between buyers and sellers at key S/R levels.
Trading Journal: t.me/The_Traders_House
Trading Journal: t.me/The_Traders_House
Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.