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21.09.2022 05:50 AM
ETHUSD Potential For Bullish Momentum | 21st September 2022

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On the H4, price has pushed through the 1st Resistance at 1420.81 where the previous swing low sat. Price has also pushed through the 1st support at 1356.35 where the 127.2% Fibonacci extension lies and reflected off the second support at 1281.37 where the 138.2% Fibonacci Extension lies. Price could possibly head back down below the second support and head lower or head back up towards the first resistance.

Trading Recommendation

Entry: 1322.53

Reason for Entry: Price has came back down to the 61.8% Fibonacci retracement

Take Profit: 1420.81

Reason for Take Profit: Previous swing low area and 100% projection

Stop Loss: 1279

Reason for Stop Loss:Previous swing low

Dean Leo,
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