ETH looking ripe for a long

3 thg 3, 2020

Good day traders

- We have had a nice bullish movement for ETH and it is now showing some weakness - which is good news since we can long cheaper
- ETH broke a falling wedge pattern and has now entered a slightly descending channel
- Rejection at the top if the channel around 234 mark
- Expecting a small correction to 225 (200 EMA) and even 222 (un-testested break of resistance) which is a good place to long on the bounce
- This is a slightly risky trade. Would not recommend more than 2-3% of capital on this one.

Entry Zone: 222 - 225
TP 1: 234
TP 2: 241
TP 3: 250 (leave a runner for this one)

Stop Loss: 214

Potential Profits: 40%-65% at 10x with a buy-in at 225

Lets see how this plays out.

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The above idea is for educational purpose only and your leveraged position should be restricted to max amount you are willing to lose.

Trade safe!