We have another rising wedge pattern setting up on Etherium Classic.
Reasons for sell trade:
Projected stop loss and take profits targets are shown.
A move above 16.3 would invalidate this setup.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Reasons for sell trade:
- Rising wedge meetings rules
- Decrease in volume
- Break of the RSI trend line
- Bitcoin has similar rising wedge pattern forming
Projected stop loss and take profits targets are shown.
A move above 16.3 would invalidate this setup.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active
Breakout to downside confirmedTrade active
Look to reduce risk now that price is moving in right direction . Can always reverse so good risk management is the key.Trade active
I'm slowly adding limit orders to increase position size. Stops above red line to manage riskNote
Trade active
Hopefully some of you added to you position when i suggested!Rising wedge patterns in a bear market and very good to trade!
Trade active
Look to take partial profits and adjust stops to reduce risk during a tradeTrade closed: stop reached
Failed to reach profit target. Still a great trade if you had good risk management and took partial profits as mentioned above.
Onto the next trade!
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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.
Related publications
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.