ETHUSD Support Breakout and Bullish Gartley Formation
ETHUSD Testing the 550 Support.
If it breaks below 550 Support, Bullish Gartley Pattern would be completed at D Leg – 461 – Possible retracement towards Fibonacci 38.2 and 61.80.
Trade Setup 1: ( Short Trade based on breakout pattern )
ENTRY: 550 ( Wait for the break below )
STOP LOSS: 600
TAKE PROFIT: 470 AND CLOSE THE POSITION.
SHORT TRADE REACHED THE TARGET AND CLOSED 80 PIPS
Trade Setup 2: ( Long at the D Leg )
AREA OF ENTRY: 440-460
STOP LOSS: 400
TAKE PROFIT: 540
TAKE PROFIT 2: 600
LONG TRADE REACHED THE FIRST TARGET: 80 PIPS. CURRENT LEVEL IS 573 AND WE ARE VERY CLOSE TO SECOND TARGET. TRADE PLAN WILL BE UPDATED FOR PREMIUM MEMBERS.
IMPORTANT: Patience and Money Management are key to success in trading. Your risk ( Stop Loss ) must be maximum 1%.
DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money on.