ETH is primed for a pullback after a relentless push higher, with structural weaknesses beginning to emerge. Current price action is testing the resolve of bulls, setting the stage for a potential short.
🔴 $ETH SHORT 📉
Entry $1,887.05-$1,890.83 | SL $1,945.61 (-3.0%) | TP1 $1,860.61 (+1.5%) | TP2 $1,794.49 (+5.0%) | R/R 1:1.7 | Conf 64%
This short setup is fueled by a confluence of signals, including a clear market structure break, volume confirmation of the direction, a fair value gap, and an order block - all of which are converging to suggest a downward move. The overlap of the order block and fair value gap adds significant weight to this analysis, indicating a high probability of a drop. The chart structure looks fragile, with little in the way of support to halt a decline.
A 3.0% stop loss may seem tight but given the leverage we're employing, it's a necessary evil to keep risk in check, suggesting a leverage of around 3-4x to maximize potential without overexposing the trade.
Taking partial profit at the first target makes sense to bank some gains and then let the rest of the position ride, allowing the trade to breathe and potentially reach further targets without over-managing the risk.
Not financial advice — trade only what you can afford to lose 🙏
$ETH #ETHUSDT #crypto #TradingSignals #Write2Earn
🔴 $ETH SHORT 📉
Entry $1,887.05-$1,890.83 | SL $1,945.61 (-3.0%) | TP1 $1,860.61 (+1.5%) | TP2 $1,794.49 (+5.0%) | R/R 1:1.7 | Conf 64%
This short setup is fueled by a confluence of signals, including a clear market structure break, volume confirmation of the direction, a fair value gap, and an order block - all of which are converging to suggest a downward move. The overlap of the order block and fair value gap adds significant weight to this analysis, indicating a high probability of a drop. The chart structure looks fragile, with little in the way of support to halt a decline.
A 3.0% stop loss may seem tight but given the leverage we're employing, it's a necessary evil to keep risk in check, suggesting a leverage of around 3-4x to maximize potential without overexposing the trade.
Taking partial profit at the first target makes sense to bank some gains and then let the rest of the position ride, allowing the trade to breathe and potentially reach further targets without over-managing the risk.
Not financial advice — trade only what you can afford to lose 🙏
$ETH #ETHUSDT #crypto #TradingSignals #Write2Earn