EthereumShort
Quick Short on ETH before Bullish Continuation
Updated
After the latest BTC impulse move, it seems that ETH is consolidating at the 166 resistance. If it continues to consolidate like this, that's a sign of bullish continuation. However, for now, I am still expecting a small retracement in the short-term, as I think we've completed 3 impulse waves and are in the process of an ABC correction.
I've laddered into a short, averaged at 166.15. I'm aiming to take profit just above the 55-Hour EMA, which also falls near the previous resistance-turned-support at about 162. If this trade fails to play out over the next 24 hours, I'll cut it and look to long the bull continuation.
Entry: 166.15
TP: 162.05
S/L: 167.8
R/R: 2.5
I've laddered into a short, averaged at 166.15. I'm aiming to take profit just above the 55-Hour EMA, which also falls near the previous resistance-turned-support at about 162. If this trade fails to play out over the next 24 hours, I'll cut it and look to long the bull continuation.
Entry: 166.15
TP: 162.05
S/L: 167.8
R/R: 2.5
Trade closed: stop reached
Stopped out unfortunately before hitting my TP... Need to work on better stop-placement, seeing as this is a recurring trend in my trading.
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