empty
 
 
17.03.2022 09:41 AM
ETHUSD, Bullish Pressure | 17th March 2022

This image is no longer relevant

On the H4, with price moving above the Ichimoku cloud and the recent break of our pivot of 2655 where the 61.8% Fibonacci retracement and horizontal pullback support is, we have a bullish bias that price will rise to our 1st resistance at 2820 in line with the horizontal pullback resistance and 100% Fibonacci projection level from our pivot. Alternatively, price may break pivot structure and head for 2nd support at 2513 in line with the horizontal swing low support.

Trading Recommendation

Entry: 2655

Reason for Entry:

Horizontal pullback support and 61.8% Fibonacci retracement

Take Profit: 2820

Reason for Take Profit:Horizontal pullback resistance and 100% Fibonacci projection

Stop Loss: 2513

Reason for Stop Loss: Horizontal swing low support

Dean Leo,
Analytical expert of InstaForex
© 2007-2026
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $3000 more!
    In September we raffle $3000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback