ETP Just getting started! But needs some rest.
Aktualisiert
hello everyone, I hope you have a great day.
ETPUSD had a great bull run past couple of weeks and gain 300% on this bloody market. that's huge!!
I don't think it continues its downtrend but needs a good rest before next move up.
we can see a divergence in RSI and a decrease in volume in the last move up. on top of that ETPUSD now moves in rising wedge that's a bearish pattern.
I personally short at 1.6 with a stop loss at 1.75. this setup has a great r/r so go for it. you can also put a buy stop above the previous pivot high but I think this scenario is very unlikely to happen but we can consider that.
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ETPUSD had a great bull run past couple of weeks and gain 300% on this bloody market. that's huge!!
I don't think it continues its downtrend but needs a good rest before next move up.
we can see a divergence in RSI and a decrease in volume in the last move up. on top of that ETPUSD now moves in rising wedge that's a bearish pattern.
I personally short at 1.6 with a stop loss at 1.75. this setup has a great r/r so go for it. you can also put a buy stop above the previous pivot high but I think this scenario is very unlikely to happen but we can consider that.
If you like this idea please leave a like and follow me for further ideas.
Feel free to comment we will respond to you asap
Anmerkung
that was a quick one! ETP broke out of rising wedge. you can make your position risk free by setting the stop loss at your base price.
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