ETH is setting up for a potential short, with a key break of market structure just happening. Price is currently testing a crucial area of resistance.
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🔴 $ETH SHORT 📉
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📍 Entry Range: $1,904.18 – $1,908.00
🛑 Stop Loss: $1,963.27 (-3.0%)
🎯 TP1: $1,877.50 (+1.5%)
🏆 TP2: $1,810.79 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 64%
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This setup looks promising because we've got a clean break of the higher timeframe structure, with signals like CHoCH and CVD firing off to confirm the direction, and that FVG is just begging to get filled. The OB and POI confluence is also right where we want it, adding to the case for a short. It's a pretty textbook example of how these signals can come together to form a compelling trade.
With a 3.0% stop loss, this trade has a relatively wide stop, so I'd say 2-3x leverage is about right to balance out the risk-reward ratio of 1:1.7.
If we do get a move down to the first target, it might be wise to take some profit off the table, just to bank some gains and reduce exposure.
As always: manage your risk, this is not financial advice 🙏
$ETH #ETHUSDT #SMC #TradingSignals #Write2Earn
━━━━━━━━━━━━━━━━━━━━━
🔴 $ETH SHORT 📉
━━━━━━━━━━━━━━━━━━━━━
📍 Entry Range: $1,904.18 – $1,908.00
🛑 Stop Loss: $1,963.27 (-3.0%)
🎯 TP1: $1,877.50 (+1.5%)
🏆 TP2: $1,810.79 (+5.0%)
⚡ R/R Ratio: 1:1.7
📊 Confidence: 64%
━━━━━━━━━━━━━━━━━━━━━
This setup looks promising because we've got a clean break of the higher timeframe structure, with signals like CHoCH and CVD firing off to confirm the direction, and that FVG is just begging to get filled. The OB and POI confluence is also right where we want it, adding to the case for a short. It's a pretty textbook example of how these signals can come together to form a compelling trade.
With a 3.0% stop loss, this trade has a relatively wide stop, so I'd say 2-3x leverage is about right to balance out the risk-reward ratio of 1:1.7.
If we do get a move down to the first target, it might be wise to take some profit off the table, just to bank some gains and reduce exposure.
As always: manage your risk, this is not financial advice 🙏
$ETH #ETHUSDT #SMC #TradingSignals #Write2Earn