ETHERUEM - You Decide => We Follow!

ETHRERUEM has a decision to make. And just like chess, we will wait for it to make the first more, and then act accordingly.

As you can see, ETH is now trading inside these two red trendlines.

We have two possible scenarios:

1- Reversal:
The lower red trendline is already valid (connecting three swings) and our last swing (gray area) is our trigger swing.

So we will be waiting for a momentum candle close below it to sell this one.

Then as it approaches the lower green support zone (900-950), we will be looking for buy setups to form.

2- Continuation:
The upper red trendline is not valid yet, so we will be waiting for a third swing high to form around it (as shown in purple) and then buy on its break upward.

In this case, as it approaches the all-time-high (1350) we will be monitoring price action and decide if we will close our buy and look for sell setups, or keep our buy.

As per my trading style:
When our buy or sell is activated, the stop loss goes beyond the last swing from the other side. and I target double the stop loss size.

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich