ETHUSD SHAPING THE BEARISH WEDGE, READY TO DECLINE

昨天

Ethereum has been forming the bearish wedge since the June 23th. The asset goes precisely according to Elliot 5-waves formation and is currently starting the wave E, rebounding from the lower border of the chart pattern.

What a trader may do?
We may go aggressive and trade long right immedia ETHUSD tely with a take profit slightly below the 2,700.00 resistance level

🔼 a market buy order at 2544.19 with
❌a stop loss at 2489.90 and
🤑a take profit at 2691.35,

risk-reward ratio is 1:2.71 (nice one!)

However, I prefer to stay conservative and wait till the price tests the 2,700.00 level and enter the position there with

🔽 a pending sell stop order at 2691.35 with
❌a stop loss at 2759.92 and
🤑a take profit at 2409.89

risk-reward ratio here will be 1:4.1 (even better!)

In mid-term, I still expect ETHUSD to trade within a 2,400.00-2,700.00 range. So after assets reaches the 2,400.00, could be reasonable to look for new long opportunities! But will see.

14 小時前

交易進行

TRADING IDEA UPDATE - ETHUSD LONG - STILL IN THE GAME💪

ETHUSD rises according to my predict and went already the half of the target. Currently the price is rebounding from a SMA50 (red line). I am still holding my positions here, no changes in take-profit, waiting for the wave E to be completed. If the 2,700 level gets successfully retested, will consider opening short-positions here