ETHUSD [REVISED - PART 2] - 30% Cyclical Short Trade?
Previously I posted a revision to the ETH short trade, but we had limited information to trade with so it was tricky:
![ETHUSD [REVISED] - 30% Cyclical Short Trade? Final Swan Dive](https://static.tradingview.com/static/images/svg/idea-image-placeholder.svg)
Now the range is clearly defined. Currently we are sitting at a shorting level with price action trading near the confines of the overall weekly trend. We can short the market around this level or wait for confirmation at $100. There is also a perpendicular line in the middle of the range, but that is a no-trade zone (between fibo .382 and .618).
![ETHUSD [REVISED] - 30% Cyclical Short Trade? Final Swan Dive](https://s3.tradingview.com/l/LJDw91l1_big.png)
Now the range is clearly defined. Currently we are sitting at a shorting level with price action trading near the confines of the overall weekly trend. We can short the market around this level or wait for confirmation at $100. There is also a perpendicular line in the middle of the range, but that is a no-trade zone (between fibo .382 and .618).
Comment:
ETH longs/shorts are 5:1! We are at resistance now.. watch for breakdown
Comment:
charts.cointrader.pro/snapshot/yK86B