Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/03/05
Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out!
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Market Overview
Trade Setups
Below are the potential trade setups that I would be interested in trading:
Long Trade Setup #1: Retest and Continuation (61.8Fib)
1. Price Action: Price needs to move back down to the 61.8Fib @ $1430 and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming
Short Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1530-1550 by the time price reaches it, and bounce back down.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!
Please support me by liking and following, and sharing your ideas and analysis in the comments! Thanks!
If you like this post, please support me by clicking the like and follow buttons. Also feel free to share your thoughts and analysis in the comments below!
And don’t forget to check out my daily analysis on Bitcoin, Ethereum, and Altcoins!
Market Overview
- Price Action: Ethereum has retraced strongly after hitting resistance in the 1650s zone. It formed an extreme reversal pinbar near the 61.8Fib and price has since bounced slightly. It is still very possible for price to retrace down to actually touch the 61.8Fib before reversing back up. Of course, a big part depends on whether Bitcoin can hold its current test of the 61.8Fib. If Bitcoin trends up from here, then ETH will likely head up to test the 200MAs.
- Chart Patterns: N/A
- Areas of Interest: The area(s) of interest for me are the 61.8Fib @ $1430 and the 200MAs @ $1530-1550. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time.
Trade Setups
Below are the potential trade setups that I would be interested in trading:
Long Trade Setup #1: Retest and Continuation (61.8Fib)
1. Price Action: Price needs to move back down to the 61.8Fib @ $1430 and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming
Short Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1530-1550 by the time price reaches it, and bounce back down.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!
Please support me by liking and following, and sharing your ideas and analysis in the comments! Thanks!
Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
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.
Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
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.