ETHUSD Descending Triangle - MECH SHORT
TRADE SETUP
ENTRY: 178.18 (0.25 pivot) - Mech Short
STOPLOSS: 180.10
TP1: 170.38 (close 40% and move stop-loss to 174.84)
TP2: 165.05 (close 30% and move stop-loss to 170.38)
TP3: 162.15 (close remaining 30%)
Why was this trade taken?
ENTRY: 178.18 (0.25 pivot) - Mech Short
STOPLOSS: 180.10
TP1: 170.38 (close 40% and move stop-loss to 174.84)
TP2: 165.05 (close 30% and move stop-loss to 170.38)
TP3: 162.15 (close remaining 30%)
Why was this trade taken?
- ETHUSD bounced off the 174.84 support 3 times, each time making a lower high, thus forming a descending triangle.
- Mechanical short at 178.18 after reaching ignition at the midpoint 0.5.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.