Ethereum (ETH) Ether wants to move higher along with Bitcoin.
Updated
This trade is a redone version of the last failed trade that triggered a stop loss. Last time there was a bearish pennant while this time Bitcoin has bounced off the buy walls twice during high selling and Ether has broke a buy fractal indicating it may want to rally higher.
When you are scalping in the lower timeframes, it is quite risky. However, one win will make up for many failures which makes this profitable if you have the right entries.
Therefore, we may long again with a tight stop.
Long
195 USD
Stop loss:
192.17 USD
Take profit areas are shown on the chart. If we hit them expect a rapid drop where you may long again.
If this breaks I will flip short for an expected 3% gain. Ideally the lines should cross to signal possible trend reversal.
Short
192:
Stop Loss:
198:
This trade is still on hold until we confirm a possible trend reversal.
You may view my past trades in the related ideas section. Please check them out. If you have any questions, please comment or message me.
When you are scalping in the lower timeframes, it is quite risky. However, one win will make up for many failures which makes this profitable if you have the right entries.
Therefore, we may long again with a tight stop.
Long
195 USD
Stop loss:
192.17 USD
Take profit areas are shown on the chart. If we hit them expect a rapid drop where you may long again.
If this breaks I will flip short for an expected 3% gain. Ideally the lines should cross to signal possible trend reversal.
Short
192:
Stop Loss:
198:
This trade is still on hold until we confirm a possible trend reversal.
You may view my past trades in the related ideas section. Please check them out. If you have any questions, please comment or message me.
Note
This long trade relies entirely on the 6200 buy wall Bitcoin has right now.Note
Possible set up you may use.
Note
Trade closed manually
Bitcoin is starting to look weak. Short Eth or just wait for direction.Trade closed: target reached
198 broke for eth triggering long, 203 Target and 215 hit.Note
Move stop loss here to lock in profits. This looks like forced demand with the high wick.
Note
If you are not in a trade, start looking to short the resistance level if we start heading lower.Note
For now I believe we will rally higher
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