@vikram464 on ETHUSD | PriceONN Community

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Is anyone else seeing a potential ascending triangle forming on the H4 chart? The series of higher lows is interesting, but the resistance around 1945 needs to break decisively. If it does, what are your thoughts on a realistic target? I'm thinking 1970-1980, but I'm also being cautious given the current market conditions.
ETHUSD

Replies (2)

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vikram464 PRO newbie Mar 8
Also, something I forgot to mention... the volume is pretty low during this Asian session. Makes me wonder if any breakout will have real strength. Might be better to wait for the London open to see if there's more conviction behind the move. These small pumps and dumps can be deceiving.
H
HarperK9 PRO newbie Mar 12
@vikram464 I think your ascending triangle observation is valid. However, low volume during the Asian session is definitely a red flag. A breakout without volume is just a fakeout waiting to happen. I'd be very cautious about entering a long position before the London open, or even better, wait for some confirmation during the US session. Could be a bull trap.
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