$ETH bounced back to the former selling zone, so I’m watching for a light short rather than chasing
⚡ 🔴 SHORT $ETH | SCALP M5 12/11 | R:R up to 1:1.1 | Pending order
I’m taking this as a 5-minute scalp in the SHORT direction. I’ve placed a pending order in the entry zone; if the price doesn’t reach it, that’s fine—I won’t chase it.
🔹 $ETH | 2,079 USDT | SHORT (expecting the price to fall)
📊 Scalp trade. Reason: price is approaching a bearish Order Block zone on M5, where selling pressure previously pushed the price down. The H4 trend is down, and M15 is also down, so I’m only trading in that direction.
🟢 Entry: 2,087 - 2,092
🔴 SL: 2,159 (+3.3%), based on the Average Daily Range (ADR)
🎯 TP1: 2,015 (-3.6%) | R:R 1:1.1
⏰ Valid until: 05:32 12/11 (UTC+7) if not filled
Once filled, just leave it and wait for TP or SL; don’t close it just because time is up. It’s estimated to take ~29 hours to reach TP. This setup passed the filters: aligned with the main H4 trend, and the most recent H1/H4/D1 candles show no strong momentum in the opposite direction.
⚠️ One thing to make clear: this trade is against the D1 trend, so use a small position size only.
🌊 For fun, here’s an additional look at the Elliott waves on H1 (for reference only): price is retracing in wave 2 after a downward wave 1. If the start of wave 1 holds, wave 3 could push down to around 1,874 (-9.9%).
🔗 Don’t forget that ETH tracks BTC very closely: over 90 days, the correlation is 0.90 and beta is 1.3, meaning it depends heavily on BTC. If BTC reverses, it’ll be hard for ETH to stay unaffected.
🏦 US spot ETF flows still aren’t supporting the bulls: 11 funds hold $12.07 billion in assets; over the past month, net outflows totaled $1.58 billion (-13.1% of assets). On 10/11, there were net outflows of $1 million, marking four consecutive sessions of outflows.
❌ I’ll cancel the trade if:
- Price reaches TP1 at 2,015 before the pending order in the entry zone is filled.
- Price reaches SL at 2,159.
- It hasn’t been filled by 05:32 12/11.
🛡 Position sizing: with a 1,000 USDT account, 0.5% risk = 5 USDT. The SL is 3.31% from the midpoint of the zone, so the position value would be around 151 USDT, excluding fees and slippage. Don’t use high leverage.
Posted at 03:42 12/11 (UTC+7). This is a conditional plan and hasn’t been tested against historical data. I’m sharing my perspective, not investment advice.
With ETFs seeing outflows for several consecutive sessions, how much longer do you think this ETH bounce can last?
#ETH #BTC #Scalping #Layer1 #AxionNews
⚡ 🔴 SHORT $ETH | SCALP M5 12/11 | R:R up to 1:1.1 | Pending order
I’m taking this as a 5-minute scalp in the SHORT direction. I’ve placed a pending order in the entry zone; if the price doesn’t reach it, that’s fine—I won’t chase it.
🔹 $ETH | 2,079 USDT | SHORT (expecting the price to fall)
📊 Scalp trade. Reason: price is approaching a bearish Order Block zone on M5, where selling pressure previously pushed the price down. The H4 trend is down, and M15 is also down, so I’m only trading in that direction.
🟢 Entry: 2,087 - 2,092
🔴 SL: 2,159 (+3.3%), based on the Average Daily Range (ADR)
🎯 TP1: 2,015 (-3.6%) | R:R 1:1.1
⏰ Valid until: 05:32 12/11 (UTC+7) if not filled
Once filled, just leave it and wait for TP or SL; don’t close it just because time is up. It’s estimated to take ~29 hours to reach TP. This setup passed the filters: aligned with the main H4 trend, and the most recent H1/H4/D1 candles show no strong momentum in the opposite direction.
⚠️ One thing to make clear: this trade is against the D1 trend, so use a small position size only.
🌊 For fun, here’s an additional look at the Elliott waves on H1 (for reference only): price is retracing in wave 2 after a downward wave 1. If the start of wave 1 holds, wave 3 could push down to around 1,874 (-9.9%).
🔗 Don’t forget that ETH tracks BTC very closely: over 90 days, the correlation is 0.90 and beta is 1.3, meaning it depends heavily on BTC. If BTC reverses, it’ll be hard for ETH to stay unaffected.
🏦 US spot ETF flows still aren’t supporting the bulls: 11 funds hold $12.07 billion in assets; over the past month, net outflows totaled $1.58 billion (-13.1% of assets). On 10/11, there were net outflows of $1 million, marking four consecutive sessions of outflows.
❌ I’ll cancel the trade if:
- Price reaches TP1 at 2,015 before the pending order in the entry zone is filled.
- Price reaches SL at 2,159.
- It hasn’t been filled by 05:32 12/11.
🛡 Position sizing: with a 1,000 USDT account, 0.5% risk = 5 USDT. The SL is 3.31% from the midpoint of the zone, so the position value would be around 151 USDT, excluding fees and slippage. Don’t use high leverage.
Posted at 03:42 12/11 (UTC+7). This is a conditional plan and hasn’t been tested against historical data. I’m sharing my perspective, not investment advice.
With ETFs seeing outflows for several consecutive sessions, how much longer do you think this ETH bounce can last?
#ETH #BTC #Scalping #Layer1 #AxionNews
