ETH 40% 10 DAY SHORT
Updated
ETH Has gone up too fast.
It will likely hit a resistance at around $1,500
This will be a good time to look for a short entry.
Only short on the way down when the trend reverses.
Your Entry Will Be $1,500
Target will be 850ish area
Potential 40% Profit
Stop loss will be $10.00 over the high. So if its $1,500 your stop loss will be $1,510
Risk will be $10 depending on how you time the top
Reward will be $650+
The actual trade may take 1-3 days.
It will likely hit a resistance at around $1,500
This will be a good time to look for a short entry.
Only short on the way down when the trend reverses.
Your Entry Will Be $1,500
Target will be 850ish area
Potential 40% Profit
Stop loss will be $10.00 over the high. So if its $1,500 your stop loss will be $1,510
Risk will be $10 depending on how you time the top
Reward will be $650+
The actual trade may take 1-3 days.
Note
Shorting Is Extremely Dangerous -> And Can lead to liquidation of accounts. You must only trade a small percentage of your account when shorting. Also you must be quick to cut the position. One of the biggest mistakes traders make is that they hold onto losing positions which then in turn become bigger larger and potentially account killing positions. Your stops must be honored.Note
Entry Short @ $1,259Trade active
Triggered Entry Trade ActiveNote
The Target And Time Frame At A Closer 4 Hour Chart Note
STOPLOSS $1,401Note
Not the best risk reward ratio, but this trade can be re-entered here. The risk reward ratio is worse due to the late entry. Note
So far so good.. Looking for a little more continuation to the downside. We should be about $200 in the money per share. My target is around $1000Note
We are experiencing a pull back -> Sometimes you can choose to lower your share size at entry or close the short all together at entry to avoid losses. I usually allow the trade to do the full move and hold through the pull back without exiting the position. Our target is still $1,000 and our stop loss is over $1,400
Note
So far ETH has not done anything wrong. I still think we have more chance of going down then up. Lucky for us we have set stop losses to ensure that we are always trading properly. So long as we follow our rules we will be consistent and disciplined. Good luck traders. Trade closed: stop reached
Note
This trade could have been repeated.Trade closed: stop reached
Target $850 and then some reached
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