Screenshot from IQoption.com Timeframe 1H Ethereum
R1 - 350
Graph analysis
Now I'm going to tell you what I'm thinking about Ethereum. How you can see the price went to 350 and formed resistance line. Which means we can wait till price went through this line which could mean you go into long positioning or now you could go into short positioning! Because of price channel which is forming here. Now what to do now?
Short position
Now you could go into short positioning because price bounce off resistance line or you could wait till price went through resistance line. I would better recommend go into short positioning now till price hit support line. This trend is better for swing traders!
Long position
What I'm thinking about going into long position? I think there is better go for few hours into short positioning because there is forming price channel! And after price meet another support line then you could go into long positioning! Why you are asking? Because price bounce off resistance line!
Summary
Where you should take profit? Depends on in which positioning you are in! If you are in long positioning then take profit when price meet another resistance line or you can wait till price went through that line! And if you are in short positioning make opposite which means when price meet support line. Some of my recommendations. Don't make quick moves better wait and better lose chance then money!
I'm Warning you !!
I'm not responsible for your money loses !! I'm here just for make estimates ! The trade depends on you You can just inspire from me !! But if you lose money I will not give you money back and no one will! Stocks exchange is very hazardous have that in mind ! I'm not guarantees accuracy of any content and hence using information on this website is solely your responsibility. The article is only for an informational character(nature) and should not be take(taken) as investment advice for the purchase or sale of stocks(shares) or other instruments. The reader agrees that the purchase or sale of stocks(shares) and other instruments based on the content of this article is at his own risk and liability.
Disclaimer
That all decisions the trader takes itself, and all indicated is not advice and a guarantee of profit
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