ETH is perched precariously above a key market structure break, with a potential fair value gap looming. Current price action suggests a rejection off a crucial order block.
🔴 $ETH SHORT 📉
Entry $1,913.28-$1,917.12 | SL $1,972.66 (-3.0%) | TP1 $1,886.47 (+1.5%) | TP2 $1,819.44 (+5.0%) | R/R 1:1.7 | Conf 65%
This ETH short setup is compelling due to the confluence of a broken market structure, confirmed by volume, and a clear fair value gap. The overlap of the order block with the fair value gap adds conviction, while the overall structure indicates a potential reversal. Signals like CHoCH and CVD are firing, supporting this bearish view.
A 3.0% stop loss may be considered relatively tight, but with the right leverage, such as 3x, the risk-reward profile of 1:1.7 starts to look attractive.
Considering the strength of the setup, taking partial profit at the first target could be prudent to lock in some gains before the market decides its next move.
Not financial advice — trade only what you can afford to lose 🙏
$ETH #ETHUSDT #SMC #TradingSignals #Write2Earn
🔴 $ETH SHORT 📉
Entry $1,913.28-$1,917.12 | SL $1,972.66 (-3.0%) | TP1 $1,886.47 (+1.5%) | TP2 $1,819.44 (+5.0%) | R/R 1:1.7 | Conf 65%
This ETH short setup is compelling due to the confluence of a broken market structure, confirmed by volume, and a clear fair value gap. The overlap of the order block with the fair value gap adds conviction, while the overall structure indicates a potential reversal. Signals like CHoCH and CVD are firing, supporting this bearish view.
A 3.0% stop loss may be considered relatively tight, but with the right leverage, such as 3x, the risk-reward profile of 1:1.7 starts to look attractive.
Considering the strength of the setup, taking partial profit at the first target could be prudent to lock in some gains before the market decides its next move.
Not financial advice — trade only what you can afford to lose 🙏
$ETH #ETHUSDT #SMC #TradingSignals #Write2Earn