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rmugavin
Jun 18, 2020 5:47 AM

ETH short Short

Ethereum / BitcoinBinance

Description

4H
Eth has been trending sideways after a big run up, finally broken to the downside with a LL

1H
Potential bear flag forming, currently price is at 4H res and the 50 Fib, which I expect to act as strong resistance.
CCI Showing divergence and turned down, steamroller turned down.
Multiple large wicks to the upside.

Trade active

LL formed, Stop loss moved down to reduce exposure

Trade closed: stop reached

Came back and stopped out for a 0.2R small loss, showing the importance of trade management. "Let winners run and cut losses short"
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