Jack's Trading Classroom | ETHUSD Short-Term Head and Shoulders Pattern
We are currently looking at the 15-minute candlestick chart for ETHUSD.
Table of Contents
We are currently looking at the 15-minute candlestick chart of ETHUSD.
Ethereum is showing an inverse head and shoulders pattern on the short-term chart, with the neckline high at 2550.70. If it breaks through this level and closes higher, the pattern will be complete and trigger a buy signal.
The short-term stop-loss should be set at the head or the low point of the right shoulder, with the profit target for the head and shoulders pattern looking towards the Fibonacci level at 2793.25.
The recent volatility in the digital currency market has been significant, so it is recommended that traders strictly adhere to risk management practices and avoid high leverage and high contract volumes to prevent additional losses from volatile market conditions. This article reflects personal opinions, please use caution when considering, as cryptocurrency trading may pose risks to your capital.
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