moontumble
Short

ETH Bearish Bat (short term)

BITFINEX:ETHUSD   Ethereum / U.S. Dollar
Potential Bearish Gartley for intraday short opportunity.

Expecting a retrace after completion of D leg, targeting 38.2 and 61.8 fib levels.

This is merely for the personal record and learning purposes and no trade advice.
I just wanna see if this pans out or not.

Ensure your own due diligence.

Comment: D Leg complete, let's see what happens next...
Trade active: Consolidation started. PT 1= $158.80
Comment:

Comments



Nice. Perfect retrace to Target 1 as expected, retesting previous high at the moment. BTC is going to hit resistance soon, so another retrace is potentially on the cards as we're still in a major downtrend overall.
Reply
These are the retracement fib levels, and this bat might or might not play through.
In case price moves above X this setup would be invalid.

There is punters lining up left right and center to get back on the bandwagon cheaply, but there is also plenty of scepticism in the market atm, so a scenario of $150 short term, and perhaps even today, is not impossible imho.

Personally I'll take profit in this one and then go short at D leg completion/trendline break, whatever occurs first, trace it to 38,2 fib, tight stop loss at that level, chasing down 61.8%.

No advice, make sure you research what strategy works best for you.

Happy trading.
Reply
So do you think it will hit $ 150 today?
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out