Ethereum is Trading Inside an Ascending Channel

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By Deya Hroob


This trade setup is based on daily chart.

ETH/USD is currently trading in an ascending channel. How to trade this kind of channel?


When prices hit the LOWER trend line, this may be used as a buying area. Put stop loss below the lower trend line.

 When prices hit the UPPER trend line, this may be used as a selling area. Put stop loss above the upper trend line.

If you are a kind of trader who loves to trade breakout, you should wait a breakout to happen. 

Simply, put a buy order above the upper line or a sell order below the lower line.

Our trades will be more reliable if we have a closed candle above/below both lines.

Good Luck,

 

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