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Aglogains

ETH USDT: Buy Trade setup @ 3234Hello everyone, hope you are doing well. Welcome to today's trade setup as a part of "Aglogains - Daily Trade Series". On the 1H timeframe we see a double bottom being formed at a key resistance level of 3330 - 3340. This was followed by a bullish confirmation, giving us an entry signal to the long side. Entry - 3234 Stop-loss - 3204 (30 points) Take profit - 3294 (60 points) 1:2 RISK TO REWARD Will keep you posted on the progress. Happy trading.
Long
by Nihanth_Aglogains
5
ETH USDT: Buy Trade setup @ 3150Hello everyone, hope you are doing well. Welcome to another trade setup as a part of "Aglogains - Daily Trade Series". On the 1H timeframe we also see a three wick rejection, the price tried to break bellow 3090 3 times and failed to sustain the move. My entry is on the 1H timeframe, after I observed a double bottom with a bullish confirmation. Entry - 3150 Stop-loss - 3090 (60 points) Take profit - 3230 (80 points) 1:1.33 RISK TO REWARD Will keep you posted on the progress. Happy trading.
Long
by Nihanth_Aglogains
ETH USDT : Buy Trade setup @ 3161Hello guys, hope you are doing well. Welcome to today's trade setup as a part of "Aglogains - Daily Trade Series". As I have mentioned in the previous idea, I was waiting for ETH to close above 3200 and created new highs confirming the continuation of the uptrend. We were waiting for a buying opportunities at 3160 - 3200. On the 1H timeframe, we can see a double bottom is formed with a confirmation on the the lower timeframes. Entry - 3161 Stop-loss - 3110 (51 points) Take profit - 3240 (80 points) 1:1.57 RISK TO REWARD Will keep you posted on the progress. Happy trading.
Long
by Nihanth_Aglogains
ETH USDT : Impulsive move or Pull back to previous levels?Hello guys, hope you are doing well. Welcome to today's market analysis as a part of "Aglogains - Daily Trade series". Ethereum is stuck in a range between 3200 - 2900 for the last 2 days, it looks like the market is consolidating here for a while given the fundamental news (US Infrastructure Bill) and other market factors. Here are the two scenarios that could play out: 1. Either we need to see ETH breakout to form a new higher high and close above 3200, to confirm the continuation of the uptrend. 2. ETH could pull back to 2990 - 2900 levels to retest the support. I suggest we wait until one of these scenarios plays out , if it does, here is how we can prepare to take advantage of the move. Scenario 1: If ETH does breakout of 3200 with an impulsive move towards the upside confirming the continuation of the uptrend then, I would look for buying opportunities on the pullback @ 3160 - 3200 Scenario 2: If ETH goes down to the 2990 - 2900 levels to retest the support, I would pay close attention to any wick rejections or bullish engulfing candles to indicate buying pressure at these levels and enter a long trade here. Let's see how the market plays this one out. Do let me know if you have a different way to leverage the current price?
by Nihanth_Aglogains
ETH USDT : Pullback to 2480 2460 levelsWelcome to a potential trade setup as a part of the "Aglogains - Daily Trade series". We entered a scalping trade in the morning looking to scalp a few points from the market but the bears had a different idea. Unfortunately, our trade got stopped out, but booking losses are an unavoidable part of your trading system. That is why it is so important to manage your position sizes and risk . As a general rule, I recommend not risking more than 2% of your entire portfolio on any single trade. We are waiting for the market to take a breather after this rally and see some profit-taking and sell-off, looking for a pullback to 2480-2460 levels. This previous resistance should act as support for another upward movement. My trade setup is possibly going to look for trading opportunities at this resistance turned support level Will keep you posted on the progress.
by Nihanth_Aglogains