FX.co ★ ETHUSD Potential For Bearish Drop to overlap support

Description :

Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price being below the Ichimoku cloud, indicating a bearish market. Looking for a sell limit entry at 1608.91, where the overlap resistance is. Stop loss will be at 1699.66, where the recent high is. Take profit will be at 1338.20, where the overlap support is.

Trading Recommendation

Entry: 1608.91

Reason for Entry: overlap resistance

Take Profit: 1338.20

Reason for Take Profit: Overlap support

Stop Loss: 1699.66

Reason for Stop Loss:

Recent high