ETHBTC Short
Awww Shit, Here we go again.
ETHBTC is still in the daily bullflag/descending wedge.
Recently made a LH. Put in a bottom that I believe the higher probability is a small retracement on the continyed move down to hunt the bottom of the flag and demand zones for liquidity.
s3.tradingview.com/snapshots/p/Pvig22Q3.png
4H:
Broke the 61.8 of the recent push up. Formed a LL below any LH on the way up.
Retracing towards the 38.2 which lines up with demand and a solid EQ level.
Definitely could crack the 38 and head for the 61.8. Makes more sense to me from a market movement POV but lately I've found the market to be particularly bearish so it may well come to the 38 and reject. Last drop only got to the 23 before rejecting.
Don't like the 38 fib, find higher probability of success from the 50/61.8, and I got stopped on a very similar ETH trade two weeks ago, so dropped risk to 0.5, I'll have another crack from higher if we break this level. But an 11:1 R:R is too good to not take a stab at.
s3.tradingview.com/snapshots/q/QxDjRak3.png
ETHBTC is still in the daily bullflag/descending wedge.
Recently made a LH. Put in a bottom that I believe the higher probability is a small retracement on the continyed move down to hunt the bottom of the flag and demand zones for liquidity.
s3.tradingview.com/snapshots/p/Pvig22Q3.png
4H:
Broke the 61.8 of the recent push up. Formed a LL below any LH on the way up.
Retracing towards the 38.2 which lines up with demand and a solid EQ level.
Definitely could crack the 38 and head for the 61.8. Makes more sense to me from a market movement POV but lately I've found the market to be particularly bearish so it may well come to the 38 and reject. Last drop only got to the 23 before rejecting.
Don't like the 38 fib, find higher probability of success from the 50/61.8, and I got stopped on a very similar ETH trade two weeks ago, so dropped risk to 0.5, I'll have another crack from higher if we break this level. But an 11:1 R:R is too good to not take a stab at.
s3.tradingview.com/snapshots/q/QxDjRak3.png
Trade chiuso: stop raggiunto
Should have closed this position after the LL formed after 2 near misses on entry. Instead left it and hoped, and ended up getting stopped out.
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