Forex Signals

Ethereum breaking the Triangular Consolidation

The Setup

Ethereum was trading inside a triangular consolidation after the drop made on Sunday and Morning.  The price has been respecting the 200-hour SMA. This morning ETH made a good candle on an increasing volume that broke the triangle to the upside and cut above the 50-hour SMA. Subsequent candles moved the price above the $175 level in which is now holding.  On the 4H timeframe the asset moves in what is an upward channel, which the price action still respects. Finally, the MACD confirms the bullish phase.

The Trade

  • Buy entry at $176
  • Stop-loss: 169
  • Take- Profit: 189

Reward and Risk

  • Reward/risk Factor: 1.86
  • Risk: $7 for every ETH coin traded.
  • Reward:$13 for every ETH traded.





By Fran S.

I love math, data science, and, also, financial markets. I love to write about system analysis, money management, risk, and math for traders. I hold a degree in Telecommunications Engineering by Univ. Autónoma de Madrid, and a Master in Business Administration and Marketing by Univ. de A Coruña.

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