BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
Two up trends blocked at the same height forming a double top and letting us know thats a supply zone

1. Put a trend line from the bottom of the last green candle before it breaks into the downtrend ( both tops)

Creating your self a little zone,

Place Short on the top of the 1st candle's trendline and in the upper quartile of the zone that you've created,

I allows shoot for a 0.5% -1% scalp as demonstrated in the picture and example above

Comments

Interesting short-term view on this pair, and there may be potential gains as you’ve identified by going short. For our analysis, we went for a longer term view. We’ve identified key support and resistance levels, of which, our resistance level at 249.27 is supported by a horizontal overlap resistance, 50% Fibonacci retracement and a 61.8% Fibonacci extension. Also, our major support level at 191.99 is supported by both a horizontal swing low support and a 100% Fibonacci extension.

Do let us know of what you think our idea!


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