Potential Demand and continuation trade for ETH
Price action is aligning very smoothly,
I will still wait some more for the full bullish conformation of continuation
Daily Activity confirmed with breaking previous swing back into overall bullish territory
Strategy rules checklist:
Daily TF activity: ✓
1H EMA flip ✓
DAY 1 = pullback ✓
DAY 2 = pullback breaches "p" pivot ✓
Suppertrend 4h TF bullish ✓
Pullback momentum: waiting for final conformation of bulls stepping back into market
Price action is aligning very smoothly,
I will still wait some more for the full bullish conformation of continuation
Daily Activity confirmed with breaking previous swing back into overall bullish territory
Strategy rules checklist:
Daily TF activity: ✓
1H EMA flip ✓
DAY 1 = pullback ✓
DAY 2 = pullback breaches "p" pivot ✓
Suppertrend 4h TF bullish ✓
Pullback momentum: waiting for final conformation of bulls stepping back into market
Trade active
Note
I realised I jumped the gun a bit with the entry - I should wait for the 2nd part of momentum!
generally the trade plan is OK, but entry and SL relation is false that way
Note
Scale out 50 % and tighten STOP LOSS for 50%
Trade closed manually
NahTP1 (scale out at 2%)
remaining half closed in slight los
all together 0.7% gain
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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.
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.