POTENTIAL DESCENDING TRIANGLE ON ETHEREUM?! (7.22% gain)
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Trade Idea 1: Descending triangle on Ethereum meaning easy short, this idea is easily invalidated with any move above the previous local high at $388 so you can put your stop above there.
Trade Idea 2: This is for the more conservative trades. Wait for $377 support to break and then short it down to $356. The reason why I will probably take this trade is because the the 4H 200 EMA and 89 EMA and the 2H 200 EMA and 89 EMA is all at $377 making it a strong support. I want this to break down and then short for a higher probability of working out
Reasons for trade:
1: descending triangle
2: breaking of major support level
3: losing 200 and 89 EMA on 4H and 2H
Trade confidence: for trade 1 - 6/10
for trade 2 - 9/10
RR: Trade 1 - 5.57
Trade 2 - 4.06
Trade Idea 1: Descending triangle on Ethereum meaning easy short, this idea is easily invalidated with any move above the previous local high at $388 so you can put your stop above there.
Trade Idea 2: This is for the more conservative trades. Wait for $377 support to break and then short it down to $356. The reason why I will probably take this trade is because the the 4H 200 EMA and 89 EMA and the 2H 200 EMA and 89 EMA is all at $377 making it a strong support. I want this to break down and then short for a higher probability of working out
Reasons for trade:
1: descending triangle
2: breaking of major support level
3: losing 200 and 89 EMA on 4H and 2H
Trade confidence: for trade 1 - 6/10
for trade 2 - 9/10
RR: Trade 1 - 5.57
Trade 2 - 4.06
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