ETH/USD SHORT
Another short entered for ETH/USD on July 31 at 3pm at 1725.
Previous short was stopped out due to small SL, there was some chop and ranging over the weekend, however with new week coming a good short setup presented itself
Confirmation was provided after weekend manipulation with liquidity grab both sides.
Very small SL for 7$ move just above 1730 with initial target at 13:1 RR.
Currently targeting $1560 with total 21:1 RR. Total targeting $160 move with possibility for continuation if an opportunity presents itself.
Ideas that we are trading are supply and demand for smart money concepts and overall looking at liquidations levels for high and medium leveraged trades etc.
Ethereum reached 1700$ last week which was a support previously and turned to a major resistance. New month of August is expected to be bearish with different fundamental factors such as high inflation, US entering into a recession, tensions between China & Taiwan + other major factors.
Overall, looking for crypto to create a bottom in Q4 around October-November, until then not expecting any major upside movements or break of BTC above 28k.
Follow to stay up to date with our ideas, soon more ideas will be posted in advance.
Good trading week all!
Cheers,
DB
Previous short was stopped out due to small SL, there was some chop and ranging over the weekend, however with new week coming a good short setup presented itself
Confirmation was provided after weekend manipulation with liquidity grab both sides.
Very small SL for 7$ move just above 1730 with initial target at 13:1 RR.
Currently targeting $1560 with total 21:1 RR. Total targeting $160 move with possibility for continuation if an opportunity presents itself.
Ideas that we are trading are supply and demand for smart money concepts and overall looking at liquidations levels for high and medium leveraged trades etc.
Ethereum reached 1700$ last week which was a support previously and turned to a major resistance. New month of August is expected to be bearish with different fundamental factors such as high inflation, US entering into a recession, tensions between China & Taiwan + other major factors.
Overall, looking for crypto to create a bottom in Q4 around October-November, until then not expecting any major upside movements or break of BTC above 28k.
Follow to stay up to date with our ideas, soon more ideas will be posted in advance.
Good trading week all!
Cheers,
DB
Feragatname
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