After a see-saw battle from the 3000-3700 range, Ethereum has rebounded from the weekend's strong liquidity sweep below the 3000 level.

My short trade plan last March 28 has triggered its stop loss before the intended moving down target was hit.

https://www.finlogix.com/analysis/20240328/eth-intraday-analysis-and-trading-plan-for-march-28-2024

Second Finlogix analysis today goes to Ethereum.

There markets are expecting 5 US major economic reports this week with a key highlight on Fed Chair Powell’s another speech on Wednesday.

Tonight 3 of those will be released including Core Retail Sales month-over-month figures.

Re-asssessing ETHUSD’s high timeframe candlesticks:

Yearly Candle: Still a Green Body with a Longer Head Wick since last check

Monthly Candle: Previous close is a Green Long-Legged Body with a Slightly Longer Head Wick current is a Red Long Lower Shadow with a Doubled Body Size

Weekly Candle: Previous close is a Red Long-Legged Body with a Longer Tail Wick current is a Green Body with a Longer Tail Wick

Daily Candle: Both Previous close and current are Green Body with a Longer Tail Wick

Per my expectation in the previous analysis, the ETHUSD has lost its grounds above the 3500 level after drawing the buy side liquidity above the 3700 area.

Last week, ETH’s price peaked from that area prior to the strong US March CPI result and a strong moving down has commenced drawing the sell side liquidity below 3000 area as well.

Intraday price action suggests a latest breaking on the nearby 4H bearish FVG.

There is another bearish FVG waiting to be challenged from the 3260 to 3440 range.

My previous short trade is one of those frustrating trades that could have been winning instead of losing.

This is one of the challenges when trading in a range bound setups where both willing buyers and sellers present.

After the recent droppings, I’m now more convinced of ETHUSD’s trading pattern.

Mentioning the important 3000 level continues to play a major support role, this time I’m going to setup a long order with the following entries:

For now, ETHUSD is trading in a range bound catching liquidity at both sides.

All trade ideas I share are my own views and for my own trades only.

Copy trading and trading directly involve risks.

ETH Intraday Analysis and Trading Plan For April 15, 2024

Apr 15 2024

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