Description : Looking at the H4 chart, my overall bias for ETHUSD is bearish due to the current price crossing below the Ichimoku cloud, indicating a possible shift to bearish market structure. Looking for a sell entry at 1658.36 where the 50% Fibonacci line and overlap resistance is. Stop loss will be at 1742.50, where the recent high is. Take profit will be at 1525.12 where overlap support and 78.6% Fibonacci line is.
Trading Recommendation
Entry: 1658.36
Reason for Entry: 50% Fibonacci line and overlap resistance
Take Profit: 1525.12
Reason for Take Profit: Previous swing low
Stop Loss: 1742.50
Reason for Stop Loss:
Recent high
