Trade Recommendation: Ethereum

The price bounces from a strong support zone formed by the uptrend line, the kumo and 300.00 support level. RSI confirms price reversal. DMI shows trend market conditions and allows trading. Pending orders for buy should be placed above Kijun line of Ichimoku indicator at 315.00 level. Stop orders must be placed below the support zone at 286.00 level. Profit targets are 340.00 and 360.00 resistance levels. Also the part of long positions can be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Buy: 315.00
Stop: 286.00
Profit Targets: 340.00 and 360.00

The trading signal is based on Poloniex chart.

Author:
Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.