📈 I just opened a long at $ETH — don't focus on the signal, focus on the analysis.
🔍 On the 4H chart, #ETH maintains a bullish channel, although with lateral momentum in recent days.
That's why I looked for a technical entry in the Fibonacci golden pocket, located in the $4,500 zone, which implies the bullish impulse from the $4,200 zone to the $4,800 zone, and as an argument, the Golden pocket is in a zone that has acted as technical support within this lateral range.
📉 What are we seeing?
— The current pullback seems like a liquidity grab
— Minimum target: to retest the upper part of the lateral range at $4,700
📊 Verified on the 1H chart:
— The price left a candle with high volume before the recent correction that lasted a couple of days from a 4-5 hour movement, with a solid body and lower wick, a sign of absorption
— My stop loss is just behind that candle, at $4,400
— TP: $4,600 (conservative zone before $4,700)
📈 Although it is not my main trigger, the RSI on the 1H shows an upward slope from oversold — a good companion to the setup.
The signal is not what matters. The analysis and management are everything. You will NEVER win them all, no matter if you lose some; the market does what it wants. You come out with SL, keep moving forward, learn if there is something to learn, and if the market was against you even without technical or fundamental analysis, it doesn't matter. You protected your capital with SL.
