ETHUSDT.P Bearish Idea
Last trade recap- Was a loser but that's ok I learned where price really wanted to go and why.
I spent some time on the basic stuff and realized I was trading against the trend, so those past two trades were on me and I thought I was going to see a reversal but did not.
Todays Trade- For Eth we see that price has swept all those highs and that's what i was hoping for to get a better confirmation of a reversal to the downside. On the daily we see both of the highs swept creating a liquidity sweep. On the 1 hour, I entered because we seen a break of structure to the downside. The only thing I think I could of done better was to wait for a confirmation on the 4hr for a Break of Structure, But I wouldn't of took this trade if I wasn't confident. Also a fvg Looks like its being created so that could bring a pullback to the upside so I have my stop above that. I put my TP very low, But I have partial positions that are way higher so If one of those get hit, Then I can set stop to breakeven and get a freeride trade. This is my thoughts, I'd like to hear yours.
I spent some time on the basic stuff and realized I was trading against the trend, so those past two trades were on me and I thought I was going to see a reversal but did not.
Todays Trade- For Eth we see that price has swept all those highs and that's what i was hoping for to get a better confirmation of a reversal to the downside. On the daily we see both of the highs swept creating a liquidity sweep. On the 1 hour, I entered because we seen a break of structure to the downside. The only thing I think I could of done better was to wait for a confirmation on the 4hr for a Break of Structure, But I wouldn't of took this trade if I wasn't confident. Also a fvg Looks like its being created so that could bring a pullback to the upside so I have my stop above that. I put my TP very low, But I have partial positions that are way higher so If one of those get hit, Then I can set stop to breakeven and get a freeride trade. This is my thoughts, I'd like to hear yours.
Trade closed: target reached
I closed trade early ended with pretty good profit, My tp was way to low and i kind of figured to I got out now with still good profit.
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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.