ETH/USDT 12H (Binance Fut.) Double rising wedge about to end
Ethereum is at critical resistance here and I can see some bearish pattern forming.
There is still some place to grow up a little bit before dump that's why I'm using low leverage and large entry range.
Sell Entry= 193.62 - 200.00
Take Profit= 181.11 | 169.33 | 150.28
Stop Loss= 212.51
Risk/Reward= 1:1 | 1:1.75 | 1:2.96
Expected Profit= 23.94% | 41.88% | 70.92%
Possible Loss= -23.94%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 3x
There is still some place to grow up a little bit before dump that's why I'm using low leverage and large entry range.
Sell Entry= 193.62 - 200.00
Take Profit= 181.11 | 169.33 | 150.28
Stop Loss= 212.51
Risk/Reward= 1:1 | 1:1.75 | 1:2.96
Expected Profit= 23.94% | 41.88% | 70.92%
Possible Loss= -23.94%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 3x
Trade active
2/3 entries filled.Note
All entries filled now, broke the small wedge but still inside the bigger one. I had to redrew it a bit because one candle spike was out, still looking bearish to me, I'm holding Short position 🤞🏼Note
Almost got stopped, I updated the stop to 217.67 making a R/R at 1:0.75 for first target. ETH/BTC also went down, if keeps falling this would help, but that's now a riskier trade!
Trade closed: stop reached
Btc didn't let it fall, better luck next time.
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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.