Dear fellow Tradingview members,
Symbol: #ETHUSDT
Strategy: #Trend_Continutuon #Breakout_Bearish_Symmitrical_Triangle.
Trade Call Type: #Short.
Order Type: Sell Stop
Indicators: #Price_Action. #Chart_patterns, # Bearish_Symmetrical_Triangle #Bearish_breakout. #RSI #RichTL #Support_Resisitance #Trendline
Entry: Short when price breaks the Bearish Symmetrical Triangle.
Anchor Time: 4 Hours
Trading Time Frame: 1 Hour.
Entry Price: 1726.77
Stop Loss: 1840.20
Take Profit: 1612.92
Risk Reward Ratio TP1: 1: 1
Methodology:
As a professional and experienced forex, crypto and stocks trader, I will be using a rigorous methodology that involves analyzing the price action and key levels and using a combination of indicators and chart patterns. I will be looking for potential trendlines, support & resistance levels where the price action may reverse and using our indicators to confirm the validity of our analysis. Based on my analysis, I will then determine the optimal entry and exit points for our trade, as well as the appropriate stop loss level to manage risk.
Analysis
I would like to share with you a trading idea on the cryptocurrency pair #ETHUSDT using a trend continuation and breakout strategy.
The chart pattern that we are looking at is a bearish symmetrical triangle, which is a pattern characterized by lower highs and higher lows. This indicates that the price is consolidating within a decreasing range, which can potentially lead to a breakout in either direction.
In this case, we are looking for a bearish breakout below the lower trendline of the pattern. We will be using a sell stop order to enter the market once this occurs, which will allow us to enter at the best possible price once the breakout has been confirmed.
To support our trading idea, we will also be using technical indicators such as price action, RSI, support and resistance levels, and trend lines. By combining these indicators, we can increase the probability of a successful trade and minimize our risk.
Our entry price will be at 1726.77, with a stop loss set at 1840.20 to protect our trade from any unexpected upward movements. Our take profit target is set at 1612.92, giving us a risk-reward ratio of 1:1.
As always, please remember to manage your risk appropriately, and never risk more than you can afford to lose. Good luck with your trading!
Symbol: #ETHUSDT
Strategy: #Trend_Continutuon #Breakout_Bearish_Symmitrical_Triangle.
Trade Call Type: #Short.
Order Type: Sell Stop
Indicators: #Price_Action. #Chart_patterns, # Bearish_Symmetrical_Triangle #Bearish_breakout. #RSI #RichTL #Support_Resisitance #Trendline
Entry: Short when price breaks the Bearish Symmetrical Triangle.
Anchor Time: 4 Hours
Trading Time Frame: 1 Hour.
Entry Price: 1726.77
Stop Loss: 1840.20
Take Profit: 1612.92
Risk Reward Ratio TP1: 1: 1
Methodology:
As a professional and experienced forex, crypto and stocks trader, I will be using a rigorous methodology that involves analyzing the price action and key levels and using a combination of indicators and chart patterns. I will be looking for potential trendlines, support & resistance levels where the price action may reverse and using our indicators to confirm the validity of our analysis. Based on my analysis, I will then determine the optimal entry and exit points for our trade, as well as the appropriate stop loss level to manage risk.
Analysis
I would like to share with you a trading idea on the cryptocurrency pair #ETHUSDT using a trend continuation and breakout strategy.
The chart pattern that we are looking at is a bearish symmetrical triangle, which is a pattern characterized by lower highs and higher lows. This indicates that the price is consolidating within a decreasing range, which can potentially lead to a breakout in either direction.
In this case, we are looking for a bearish breakout below the lower trendline of the pattern. We will be using a sell stop order to enter the market once this occurs, which will allow us to enter at the best possible price once the breakout has been confirmed.
To support our trading idea, we will also be using technical indicators such as price action, RSI, support and resistance levels, and trend lines. By combining these indicators, we can increase the probability of a successful trade and minimize our risk.
Our entry price will be at 1726.77, with a stop loss set at 1840.20 to protect our trade from any unexpected upward movements. Our take profit target is set at 1612.92, giving us a risk-reward ratio of 1:1.
As always, please remember to manage your risk appropriately, and never risk more than you can afford to lose. Good luck with your trading!
"London-Based Trader | Certified Technical Analyst | Intraday & Scalping Specialist 📈📊 #Forex #Commodities #Indices #Crypto"
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.
"London-Based Trader | Certified Technical Analyst | Intraday & Scalping Specialist 📈📊 #Forex #Commodities #Indices #Crypto"
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.