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Ethereum / TetherUS
Short

ETH heading for double bottom (likely overshoot)

By Krambjoern
Updated
Small bull trap in play, we are about to reverse and retrace this up move! Wait for confirmation on 4h close. Save entry beneath recent 4h candle.
Not financial advice, trade on your own risk.
Note
Possible bearish divergence on 1h. Best entry trigger: Below previous 4h candle, move your entry point up if recent 4h closes higher than previous one, move entry until triggered in by downmove.

Not financial advice
Trade active
Trade entry: 3117

Trademanagement:
If neckline breaks target 1 in play. Watch for retest of neckline, if failed, take 50% profit and move stop los to entry point.

If Neckline holds and target 1 met, take 25% move SL just above neckline 3104

Possible lowertime frame revearsal and H&S is possible alternative play. Watch lower timeframe for confirmation.

No financial advice. Trade on your own risk
Trade closed: target reached
Target met took 25% in profit of position. Move stop loss to 3104
Trade closed manually
another 25% in position closed, we are out 50% of our trade, leave SL in place.

If price is breaking low, we look to take profits around 2600 and lower
Note
Expecting revearsal as RSI comming to the apex. Set SL above previous candle close, and follow down, either 25% or close out.
Trade closed: target reached
25% were taken out of the market on the small reversal, still upside in play.

Moving SL to 3061 making this a winning trade.

If trend resumes we take profit, if we hit neckline and go down I expect a higher low and close position.
Follow me for long setup
Trade closed: stop reached
We were stopped out and closed with a win. Congratulation everybody. Follow for the next trade!
The ones who are still in. Look to exit in the next few hours and set up your long trades.
ETHUSDTTrend AnalysisWave Analysis
Krambjoern

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