Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/01/27
Updated
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MARKET OVERVIEW
TRADE SETUPS
Below are the potential trade setups that I would be interested in trading. Regardless of the path that the price takes, I will be monitoring the market for a valid trade entry signal.
Short Trade Setup #1: Retest and Continuation (200MAs)
To open a short position, we are waiting for price to retrace back up to test the 200MAs and then continue moving down.
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1330 by the time price reaches it, and bounce back up.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
TRADESS RECAP: LATEST 3 TRADES
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About Me
DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.
Please support me by liking, sharing, commenting, and following, and sharing your ideas and analysis below! Thanks!
Also check out my daily post on Bitcoin!
MARKET OVERVIEW
- Price Action: ETH has been consolidating at the 200MAs since from from ATH of $1475
- Chart Patterns: No patterns.
- Areas of Interest: The area(s) of interest for us are the 200MAs @ $1330. Once price reaches one of our areas of interest and gives us a valid entry signal, I will update the trade, so make sure you follow me to get the trade entry signals in real time.
TRADE SETUPS
Below are the potential trade setups that I would be interested in trading. Regardless of the path that the price takes, I will be monitoring the market for a valid trade entry signal.
Short Trade Setup #1: Retest and Continuation (200MAs)
To open a short position, we are waiting for price to retrace back up to test the 200MAs and then continue moving down.
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1330 by the time price reaches it, and bounce back up.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
TRADESS RECAP: LATEST 3 TRADES
- 2021/01/11: We had losing trade! We entered a long @ $1024.8, with Stop Loss @ $971, which was hit.
- 2021/01/10: We had winning trade! We entered a long @ $1283, with Stop Loss @ $1247, and price reached a high of $1325, giving a risk reward ratio of 1:1, meaning if you risked 1BTC on this trade, you could've made 1BTC.
- 2021/ 01 /07: We had two winning trades! We entered a short @ $1213, with Stop Loss @ $1224, and price reached a low of $1159, giving a risk reward ratio of almost 5:1, meaning if you risked 1BTC on this trade, you could've made almost 5BTC. After our short trade, we had a trade of a new experimental trendline strategy. We entered a long @ $1194, with Stop Loss @ $1173, and price reached a low of $1289, giving a risk reward ratio of almost 4.5:1, meaning if you risked 1BTC on this trade, you could've made almost 4.5BTC.
Why Follow Me
- Daily analysis on the latest market movements and price zones for high probability trade setups.
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About Me
- I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016.
- I have worked on Wall Street trading bonds, stocks, and options.
- I have worked at top consulting firms advising Fortune 500 companies and worked on 10Billion+ deals.
- I have founded and advised blockchain projects and companies, including in the areas of defi, nft, data ownership, and personal identity.
- I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward.
DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.
Please support me by liking, sharing, commenting, and following, and sharing your ideas and analysis below! Thanks!
Note
#ETH20210126 eth bounced off of the bottom of the channel (another successful test. If we get another 1-2 of these, I will add channel trades to our official calls). And now getting rejected from the 200MAs. 
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