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22.09.2022 07:25 AM
ETHUSD Potential For Bearish Momentum | 22nd September 2022

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On the H4, price has pushed through the 1st Support at 1554.03 where the previous swing low sat. Price has also pushed through the second support at 1276.99 where the 138.2% Fibonacci extension lies. Price could possibly head back up to the second support for retracement and then head lower.

Trading Recommendation

Entry: 1276.99

Reason for Entry: Retracement sell entry at the previous swing low and 138.2% Fibonacci extension line area

Take Profit: 1005.25

Reason for Take Profit: Previous swing low area from 13th July 2022

Stop Loss: 1412.2

Reason for Stop Loss:Previous swing high

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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