For Traders

Analytical Reviews

Trading plan

24.11.202105:10 Forex Analysis & Reviews: Trading plan for Ethereum on November 24, 2021

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Ethereum has been forming a flat zone for the seventh day. The bearish movement stopped after dropping to a significant support zone of $3970. This indicates the presence of a large number of limit buy orders near the specified level.

The upward movement yesterday showed that buyers' strength is not yet enough to break the downward impulse. The closing of trading occurred below Monday's opening. Within this zone, there is an opportunity to find a favorable price to sell the instrument. The defining resistance is the level of $4450. As long as the daily candles close below this mark, the probability of updating the monthly minimum remains 75%, which makes selling from the upper limit of the flat more profitable.

The task is to find a pattern for selling the instrument as close as possible to the level of $ 4450. It is important that the risk-to-profit ratio is above 1 to 3.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.