1) Trend changed back to up
2) ETHUSDT made all time highs! Congrats!
3) ...and then it gave back these gains almost immediately as we have range expansion downward.
With BTC in a sustained slump (sideways, drifting downward), it's pulling the crypto market with it. It looks like the market in general is cooling off after an incredible few months.
The stats for this trade are from 2020. If you use the 1% risk rule, your profit in 2020 would've been (trades * win rate * profit factor * 1% risk) = 84%.
Entry: immediate
Stop: $115 above entry
Target: waiting until the trend changes again
2) ETHUSDT made all time highs! Congrats!
3) ...and then it gave back these gains almost immediately as we have range expansion downward.
With BTC in a sustained slump (sideways, drifting downward), it's pulling the crypto market with it. It looks like the market in general is cooling off after an incredible few months.
The stats for this trade are from 2020. If you use the 1% risk rule, your profit in 2020 would've been (trades * win rate * profit factor * 1% risk) = 84%.
Entry: immediate
Stop: $115 above entry
Target: waiting until the trend changes again
Note
Caught a -5% drop so far and looking for more downside. Just as important, ETHBTC flipped into a downtrend as well. That means ETH and alts will likely dump harder than BTC. It's a good time to be short!Note
Really nice volatility! Price came all the way back to entry on a +8% bounce. The trend is still down. Sticking with the trade. BTC looks much weaker. We'll see.Note
Now we have the typical dead weekend volatility. Boo! The Donchian channel has "pinched". We either find a new direction upward, or spike downward. I'm still in the trade, waiting patiently.Note
Oof, stop hit for a -13.5% movement loss. Largest loss in a long time. Oh well, time to flip long!Trade closed: stop reached
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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.