Chart of the Day -ETHUSD- (Nov. 26th 2018)

27th November 2018 Off By binary
Chart of the Day -ETHUSD- (Nov. 26th 2018)

The ETHUSD is at the 161% extension of the recent triangle breakdown.

One of the most dangerous mistakes a trader can make is “catching a falling knife.” Or when prices continue to drop to look for places to be long. If you look at the price action yesterday, the candle suggested the worst may be over, but today’s candle may tell us that the downtrend may continue despite the oversold RSI and Fibonacci extension test. A bounce may or may not happen, but one thing is for sure, the trend is down for now.

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Blake Morrow

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