This idea is a little bit different, and will be looking at the smaller timeframes. So far Ethereum seems to be weakening and failed to push higher. I can see it drop around 3%, which would make it a good scalp. Currently waiting for confirmation.
On the 5 min timeframe, Ethereum dropped below the cloud following a bearish TK cross and now has successfully tested resistance. If we fail to break through and get another William Fractal, it is a short signal.
Short:
221 USD
Take Profit:
215 USD
Stop loss:
If we push above 222 and trade within it for some time, get out. Alternatively, you may set a stop at 224.
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On the 5 min timeframe, Ethereum dropped below the cloud following a bearish TK cross and now has successfully tested resistance. If we fail to break through and get another William Fractal, it is a short signal.
Short:
221 USD
Take Profit:
215 USD
Stop loss:
If we push above 222 and trade within it for some time, get out. Alternatively, you may set a stop at 224.
Thanks for viewing! I appreciate all the comments and reply instantly.
Nota
RSI should not cross above 50 ideally.
Nota
So far all conditions have been met, stop set at 224.
Nota
Stop moved down to entry price of 223. If once we hit target, set a stop to lock in profits and then wait, as BTC could break down 48 hours.
Nota
On track
Trade fechado: objetivo atingido
I closed most my position and moved my stop loss down to 222Trade fechado: objetivo atingido
218.61 is new stop loss, I have locked in this trade for around 2.5%.Nota
By the way, I expect ETH to breakdown, so I will add if that does occur. I think we will form new lows along with Bitcoin.Nota
Yup as predicted we broke down.Nota
For now I expect recovery due to the spike in Bitmex liquidations, so Bitcoin will recover, pulling Ether along with it.Nota
Long with 1.1 risk/reward
Nota
We should stay above 210 if this is the bottom.
Nota
Looks like that was the bottom. I expect a second test of 210 and a push upwards.
Nota
Short 218 level for a quick scalp with a very good risk/reward.Trade fechado manualmente
Trade is complete. New trade will be updated.Nota
Trade ativo
Please view my new idea
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