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 stop entry at 1491.44, to ride the bearish momentum. Stop loss will be at 1546.84, where the overlap resistance is. Take profit will be at 1338.20, where the overlap support is.

Trading Recommendation

Entry: 1491.44

Reason for Entry: Sell stop to ride the bearish momentum

Take Profit: 1338.20

Reason for Take Profit: Overlap support

Stop Loss: 1546.84

Reason for Stop Loss:

Overlap resistance