| ETHUSDT | Short term counter trend move
This setup presents itself with a higher timeframe bearish framework on a higher timeframe bullish trend. So I would like to see the price reach the range equilibrium to liquidate sell stops from long holders' trailing stops.
Trade active
Target 1 reached. Lets see what weekend price action delivers.Note
During the holidays, price has been held in a consolidation. I expect a "stop hunt" above 3553.63 high, ideally into the 3718.47 level in equilibrium. Then a sell-off to the second target.
I dont like to see a close above 3900.
Trade closed: target reached
As I anticipated last week, the price is doing a "stop hunt" at the 3718.47 level in equilibrium. Then a sell-off.
I would like to see the open of 3653.71 respected.
Depending on today's close, I will update the invalidation price of the idea.
Note
I made a mistake with the status update and "closed the trade" instead of adding a note. The idea is still valid.Note
Target 2 Reached.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.