DLavrov

ETHBTC Short Opportunity

Short
POLONIEX:ETHBTC   Ethereum / Bitcoin
When the market passed through the kumo, we got a confirmation for a down trend. We had to search for entry levels for short trades only. If you trade based on Ichimoku signals, you could get 3 sell signals. I marked the possible entry levels on the chart. As you can see, these short trades make profit now. As for a new sell signal, we have trading opportunity and we must be ready for selling. We can see a symmetrical triangle chart pattern which usually plays as a continuation pattern. It means that we must open short trades if the market breaks the bottom line of this triangle. This breakout must be confirmed by ADX line moving above 20 level. Stop orders must be placed higher than 0.095000 level. Profit target should be near 0.070000 level. If price moves upward passing through the kumo and the downtrend line, we'll have buy opportunity.

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