ETHUSD - 20% Cyclical Trade?
Updated
Hey traders!
I'm looking at this short trade as we continue to trade below the EMA50. Some very interesting market structure here, and we can see a potential breakdown of this triangle.
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
I'm looking at this short trade as we continue to trade below the EMA50. Some very interesting market structure here, and we can see a potential breakdown of this triangle.
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Note
At confirmation line!Note
Nice! Next is to take out this support with a daily candle close. RSI is blowing firmly behind our backs.Note
Daily candle has closed below support. ;)Note
Almost at our TP box! The trading range will offer some support at 137ish where its likely to consolidate. I usually ride the selloffs until there is somekind of reversal given margin costs are not too bad.Trade closed: target reached
Yeeehaw!
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