EthereumShort
ETH SHORT as Retracement Move
Updated
Day's Bias: Short Term Bearish
Overall Bias: Bullish until target price $1350+
Plot:
Strong Impulse move after mitigating GAPS left from a previous HTF bullish run.
Price creates HTF Equal lows instead of taking out an HTF Swing Low prior to this bullish impulse wave, which instructs a bearish continuation on Higher TF.
Price has not left the Asian Range today, but shows has taken out the Asian High.
Expecting price to create a SHORT Setup above asian range midpoint before dropping to about $1230 or lower as a retracement for an upward continuation.
Trade shall be closed by end of NY Session.
Overall Bias: Bullish until target price $1350+
Plot:
Strong Impulse move after mitigating GAPS left from a previous HTF bullish run.
Price creates HTF Equal lows instead of taking out an HTF Swing Low prior to this bullish impulse wave, which instructs a bearish continuation on Higher TF.
Price has not left the Asian Range today, but shows has taken out the Asian High.
Expecting price to create a SHORT Setup above asian range midpoint before dropping to about $1230 or lower as a retracement for an upward continuation.
Trade shall be closed by end of NY Session.
Note
Additionally, this setup is expected within the London/NY Sessions Overlap as confluence. We have a good smart money sponsorship with this move.
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