Market Overview
Trade Setups
Below are the potential trade setups that I would be interested in trading:
Long Trade Setup #1: False Breakdown
1. Price Action: Price breaks below the then rapidly climbs above $1711, forming a bear trap
2. Trade Entry Confirmations: A breakdown candlestick followed by a reclaiming candlestick, above average volume on both breakdown candle and reclaiming candle, MACD bottoming
Short Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1800-1820 by the time price reaches it, and bounce back down.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
My Recent Trades
DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!
What are your thoughts? Please leave your ideas and analysis in the comments below! Do give the post a like and a follow.
- Price Action: Ethereum experienced a large retracement along with the overall market, dropping 12% from $1944 to $1711. Upon bouncing at $1711, we took a long which has been quite profitable, hitting our take profits.
- Chart Patterns: N/A
- Areas of Interest: The area(s) of interest for me are the highs @ $1880. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time.
Trade Setups
Below are the potential trade setups that I would be interested in trading:
Long Trade Setup #1: False Breakdown
1. Price Action: Price breaks below the then rapidly climbs above $1711, forming a bear trap
2. Trade Entry Confirmations: A breakdown candlestick followed by a reclaiming candlestick, above average volume on both breakdown candle and reclaiming candle, MACD bottoming
Short Trade Setup #1: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back up to the 200MAs, currently projected to be @ $1800-1820 by the time price reaches it, and bounce back down.
2. Trade Entry Confirmations: Bearish candlestick pattern, above average volume, MACD topping out
My Recent Trades
- 2021/03/16: I had a winning trade! I entered a long @ $1738, with Stop Loss @ $1718, and price reached a high of $1758 so far. Will update this next post.
- 2021/03/05: I had a winning trade! I entered a long @ $1,540.0, with Stop Loss @ $1,522.4, and price reached a high of $1,670.0, giving a risk reward ratio of 7.4:1.
- 2021/02/21: I had a losing trade. I entered a long @ $1,970.0, with Stop Loss @ $1,868.6, and stop loss hit.
DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!
What are your thoughts? Please leave your ideas and analysis in the comments below! Do give the post a like and a follow.
Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
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.
Telegram Community: t.me/joinchat/RbV9ZyWrlQiKOhCw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
Youtube Video Analysis: youtube.com/channel/UCPwR8Rv2YVI7qZIhedX7pQw
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.