The idea is to trade the break of falling wedge in ETH/USD pair. For additional confirmation, a 1h time filter can be applied alongside with the break and close above 20 & 50 day EMA's.
SL below the recent low and TP based on the Minimum Price Objective.
For the pattern to be valid, the break should occur in the next 6-7 hours. Should be a nice and quick trade. Good luck to all :)
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We got a break of the wedge and the price is currently testing the 20d EMA. I am still waiting for a break and close above it to further confirm the bullish bias.
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Break of the downtrend line on the RSI could be another confirmation!
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Still waiting for the 1h candle close above the EMA. Be patient and you will be rewarded.
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Thats a perfect example of the power of time filters. No trade has been opened as we did not get a close above the 20d EMA.