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An intraday trading plan for Ethereum

Thursday, November 16, 2017 2:04 PM GMT

Ethereum is moving sideways up within a range of 349 and 275$. We should not forget that this range is within a bigger pattern, a triangle, that we have mentioned in previous posts. It’s positive that 5 EMA is above 21 EMA because they can offer daily supports.

Daily

Reviewing the hourly TF, there are two interesting levels that traders can use them for trade setups. If price violates 330$ to the upside then there is a bullish setup while below 320$, there is a bearish setup. The bulls target new highs while bears the 200 SMA.

Hourly

Heading to the 15m TF, the lower TF is confirming the bigger one. The 200 SMA validates the 330$ as resistance while the price structure confirms the 320 as support.

15M

(EMA = Exponential Moving Average, SMA= Simple Moving Average
5EMA=Blue, 21EMA=White, 200SMA= Yellow)

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