ETHUSD: Good Long Opportunity towards Resistance Level at 251.29

26 ก.ย. 2018

I see this as a excellent long opportunity. There is a nice horizontal overlap resistance at 251.29, with a 23.60% fibonacci retracement. Price looks to test this resistance level and I'll set my take profit level just below the resistance. My buy entry will be around 216.78, which coincides with a 100% fibonacci extension. Lastly, I will position my stop loss at 194.86, which is a swing low support. This is a good support level as it coincides with 61.80% fibonacci retracement and 61.80% fibonacci extension.

Stochastic is on a upward trend and yet to hit the 96.0660 resistance level, thus I believe there will be more buyers in the following days.

Share with me what you think about my idea in the comments and like it if it is useful, appreciate it.

Thank you.