Adding my Analysis to Today's Top 3 Ethereum Analysis Blogs on LeoFinance

in LeoFinance •  2 months ago 

Direct from the desk of Dane Williams.



Hey team,

After the corrections we've just seen across the crypto market, it's Ethereum that seems to have caught the attention of the LeoFinance community.

Everyone's analysis focuses on a similar support/resistance zone that price has come back to retest, but each goes about actually trading around it a little differently.

Take a look at my top 3 Ethereum analysis blogs on LeoFinance right now:

  1. @scaredycatguide's Ethereum analysis
  2. @cryptospa's Ethereum analysis
  3. @rollandthomas' Ethereum (video) analysis

The fact that each trader has slightly different strategies, but all are looking to do business at this exact same support/resistance zone shows why they're so important.

The basis for all trading strategies, should be starting with higher time frame support/resistance and going from there.

As everyone is watching these zones, liquidity is going to be high and price is going to act efficiently.

Let me now add my view of Ethereum to the list.


Ethereum Analysis

As per my simple support/resistance trading strategy, I start looking at higher time frame support/resistance.

In this case, as price pulled back during the correction, it retested the daily zone around the $500 mark.

ETH/USD Daily:
ETH/USD Daily

As the zone held, I was looking to play the market from the long side.

But to maximise my risk:reward and get an entry, I zoom into an intraday chart such as an hourly to ensure all timeframes have lined up.

ETH/USD Hourly:
ETH/USD Hourly

I used the last area of short term resistance before price last broke higher through the daily zone.

It's as simple as drawing a blue box around the last red hourly candle inside the daily zone.

You can see that price traded through the intraday zone, but never closed below it or the daily zone itself.

Depending on how aggressive your stop loss placement was, this is another example of how you can trade my strategy.


I'll be back to voting on LeoFinance content soon guys, my VP is back to 70%, woo!

Best of probabilities to you,

Dane.



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I remember we talked about a possible pullback last week, looks like it finally came!

my VP is back to 70%, woo!

Mabie, you should delegate it to me, I'll take care of it for you so you have more time for other things. JK- lolz!

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By tomorrow, I'll have fully delegated my HP to leo.voter and be back curating with my LEO stake.

Also, I may have bought the LEO top, but I'm back above you on the rich list ;)

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Congrats, I knew it wouldn't be long before you passed me. Are you also going to put some into LBI?

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Yeah, I'm thinking the 5K liquid I have at the moment will go to LBI.

I'm also dumping BRO and possibly trying to move my small SPI investment across to LBI too, but we'll see.

I mostly want it for exposure to Uniswap rewards, but I'm not even sure if that will be a big part of their structure.

What are you thinking?

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I'm still looking for a non KYC way to add Fiat to Hive, then I could get more without powering down anything.

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