Trading Ethereum Right Now; What To Think

Updated

Hey Traders,

Here's a little longer video in regards to both Tech / Fundamental and Mental parts of Trading any Crypto at the moment.

In this case it is ETH which is popular around the crypto trading community.

The point is simple; Take your gains off the table at key resistance and use choppy market scenarios to hedge / mitigate loss.

Do not BUY into resistance it does not work as a long term structure or Trading Plan.

Watch for a detailed breakdown.

As always never overleverage Trade Small and Trade Smart.

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Markets cooling as we enter the weekend.

Do not see this period as a fomo time.

Looking to next week for further management and improved sentiment

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Dips for longs must be MUCH further, await falls

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Use this time to understand that markets are slow due to lack of news.

Likely improved impetus tomorrow

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There you are the further bounce AGAIN.

Not far enough yet so hold off.

We like prices nearer key MA's.

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Anddd we go lower. Are you glad you did not Dive in?

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STILL not broken. Remember, if you bought at highs like those you probably wasted time money and energy. Make sure you are only buying when the prices comes down, not when it comes Up!

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whacked down again. This is why you must not get fomo.

Larger PB required

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Lots of news to come this week starting tomorrow.

Make sure you do NOT buy before the news as a guess to what will happen.

Simply, let the market either burst higher or burst lower.

Do not guess what will happen, its not logical and doesn't work.

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Notice how FOMOers are losing money trying to buy highs.

We are hitting the exact same level and its going wrong for them everytime.

you NEED margins to trade. there is no margin long at highs.

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And notice again, you still can’t break the high.

This is now called channelling movement (sideways dawdling)

Break prev daily lows and looking for bounce / early exits.

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Any shorts re approaching prev price rejection, make them very much smaller than at first.

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Further damage to market sentiment..

Even worse time to buy.

Drop is needed

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And that again is why we do not fomo.

Let the market breathe.

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Approaching very light long level IF you have to trade crypto.

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Get lightly long and take early exit bounces.

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Exit for gains

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Exit all longs VERY careful on shorts for scalpers must be TINY size.

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Keep note of Market Sentiment and watch for rapid changes adjusting sizes / entries / exits.

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ETH rebound from lows....

Any return to previously shorted areas needs to be taken with great care.

Hold off any shorts.

Avoid guessing any News Events. It's not a good idea

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Remember YES we may blow through there's a good chance... But we do not buy highs. Only on falls.

Repeat and itll go right (as you just saw)

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In the heat of the moment... do not fomo

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And that is why you do not fomo... again.

Larger fall for longs needed so hold off.

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light longs 1550 area.

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And as mentioned levels can ONLY take so many hits. Refer to prev price action levels for partial exits over time.

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And as mentioned above we are now through. AVOID fomo now. 2170 likely.

WillSebastian

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Posts Not financial advice.

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