ETHUSD Market Analysis – Short Setup

15 Nis

I'm going short on ETHUSD based on current market structure and key resistance levels.

📉 Trade Details:
Entry Price: $1,649.43

Stop Loss: $1,656.60

Take Profit: $1,564.97

🧭 Reason for the Trade:
ETHUSD recently tapped a resistance zone near $1,650, which has acted as a supply area multiple times in the past. After a weak bullish push with low momentum, price started to stall showing signs of rejection with long upper wicks on the H4 candles.

This hints that sellers are stepping in and bulls are losing steam.

🔥 Why I’m Short:
Price rejected the $1,650 zone

Weak bullish candles near resistance

H4 shows bearish structure forming

Risk/reward ratio is solid

📍Risk Management:
I’m keeping things tight with my Stop Loss at $1,656.60 — just above the resistance zone. If price breaks above this, it means sellers are likely out of the game.

Take Profit is set at $1,564.97, right above a demand area and previous support. This gives the trade room to breathe while locking in profit before price bounces.

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