Currency Pair: ETH.USD Time Frame: Daily, 4hr, 1hr & 5min Predicted Direction: Short
Live ETH.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity. Should my daily predicted direction be incorrect no trade opportunity will be generated.
PLEASE NOTE: This setup is a personal investment and is separate to my daily trading portfolio.
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Price now broke back below 4hr, 1hr & 5min 50EMA
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How to identify trade setups using the 50EMA
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Price approaching half profit, should this occur a trailing stop loss can be implemented.
Trade wurde manuell geschlossen
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Position closed at profit. Price failed to accelerate away from 4hr 50% which is a concern as you look deep into the 1hr TF
Trade geschlossen: Ziel wurde erreicht
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If you continued to hold the position you would now have taken target, please note as stated above i took profit off a little early due to the 4hr TF
All over now i will break it down again tomorrow to see how price settles.
AshishSikka
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Do you advise to short ETH at the current price
UnknownUnicorn180388
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@AshishSikka, Not currently, i would await a pullback.
AshishSikka
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@tomhall, Thanks a lot tom. I have lost badly in the last few trades hence if you could be of help it would be great to alteast recover some of my loss
userbeauty
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Thank you! You write, "Price failed to accelerate away from 4hr 50% which is a concern as you look deep into the 1hr TF". Am I interpreting correctly that it's concerning because price may drop further to test daily 50ema?
UnknownUnicorn180388
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@userbeauty, My pleasure.
It basically means if a structure level holds as strong support or resistance price on most occasions will accelerate away, if this doesn't occur then it's clear there are bulls in the bulls still push price.