Short

Ethereum (ETH) High chance of testing 215 if conditions are met.

Updated

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.

Thanks for viewing! I appreciate all the comments and reply instantly.

Note

RSI should not cross above 50 ideally.

Note

So far all conditions have been met, stop set at 224.

Note

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.

Note

On track

Trade closed: target reached

I closed most my position and moved my stop loss down to 222

Trade closed: target reached

218.61 is new stop loss, I have locked in this trade for around 2.5%.

Note

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.

Note

Yup as predicted we broke down.

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For now I expect recovery due to the spike in Bitmex liquidations, so Bitcoin will recover, pulling Ether along with it.

Note

Long with 1.1 risk/reward

Note

We should stay above 210 if this is the bottom.

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Looks like that was the bottom. I expect a second test of 210 and a push upwards.

Note

Short 218 level for a quick scalp with a very good risk/reward.

Trade closed manually

Trade is complete. New trade will be updated.

Note

Trade active

Please view my new idea

Ethereum (ETH) Will test 200 soon. Short the top. Fractals.

HD1184K

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