ETHBTC| On Its Way Down

23 May 2021

It seems very likely that the market will continue to move down,after having broken through multiple structures within a major demand zone.

I entered shortly after a 5m-time frame retest of the very bottom of the demand zone.

Will update you about this trade's progress.

23 May 2021

Not

Also wanted to add that I used the previous rejection of the demand zone by two long wicks as a confirmation that most retail stop orders had been triggered. Since the two long wicks were followed by a continued downtrend, it signaled to me that the bullish power was not strong enough to adhere to the demand zone and that a downward break became very likely.

23 May 2021

İşlem kapandı: durdurma seviyesi

Unfortunately we got stopped out, but since I still have confidence that price will move down, I reentered the same trade with my new stop loss being at the top of the former demand zone.