1) Price made new all time highs but retreated as BTC pulled the crypto market back.
2) The downside was briefly tested, but went nowhere. The channel contracted in preparation for its next move.
3) and we have range expansion to the upside! The trend up is the path of least resistance.
ETHUSD is following BTCUSD, a trade I already caught before Elong Musk pumped it 10% (see related idea). It looks like BTC will lead the way. ETHBTC is in a downtrend, which means BTC is the stronger trade right now, but there's no reason not to bet on ETH as it's trending up.
Entry: immediate
Stop: $85 below entry
Target: sticking with it until the trend changes
The stats are from 1/1/2020-current and are for 1% risk.
All questions/comments are appreciated!
2) The downside was briefly tested, but went nowhere. The channel contracted in preparation for its next move.
3) and we have range expansion to the upside! The trend up is the path of least resistance.
ETHUSD is following BTCUSD, a trade I already caught before Elong Musk pumped it 10% (see related idea). It looks like BTC will lead the way. ETHBTC is in a downtrend, which means BTC is the stronger trade right now, but there's no reason not to bet on ETH as it's trending up.
Entry: immediate
Stop: $85 below entry
Target: sticking with it until the trend changes
The stats are from 1/1/2020-current and are for 1% risk.
All questions/comments are appreciated!
Note
Price moved back into a range and all volatility just died. Yawn.Note
It took awhile, but we're riding a +9% move so far! The market will move on its own time.Trade closed: target reached
And we're out of the trade for +11.5%! The trend changed down.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.