Your Evening Read: ETH should bounce from $1256

Ethereum is approaching is 1.0 Fib extension. I expect a reaction there. In my opinion, if you're interested in shorting wait for the retrace off the area of the 1.0. Once we get our retrace, I would set a SHORT STOP LIMIT at that low in the area of the 1.0.

I know it may say sound counterintuitive, but until ETH retraces and then takes out the low around the $1256 area, there is still risk. Those are your short set up parameters.

You should be able to set your stop at the retrace high and ride down to new lows if the pattern remains impulsive.

Best to all,

Chris