ETHEREUM STRUCTURE SHORT|6:1 RISK-REWARD
Ethereum has broken its diagonal support line, and is now trading in a bearish triangle below the very strong resistance.
I am looking at a short from the resistance line. This is better than waiting for the triangle breakout, because, if you look at how ethereum is trading, it's downward movements are swift and quick. So I suggest we catch it from the high.
The resistance line is so surgically accurate, that the SL is quite narrow. Any breakout and we close the trade.
But entering at the identified levels gives us great risk-reward, while providing us with more that 50% probability.
When the price breaks out the triangle downwards, move SL to above the mirror level.
Target is in the middle of the potential movement range and is therefore realistic.
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