1) ETH made all time highs, great!
2) A high volume drop signaled there was more to come. ETHUSD would lose ~25% over the following days. High gas fees and DeFi competition from BNB were blamed. I took profit at this area, as seen in the related idea on BTC.
3) The entire crypto market just couldn't drop lower that about a 25% drawdown. When price stops making progress in one direction, it often turns around and tests the other side.
4) And price goes from a trading range to trending UP! The range expanded upwards and ETH is back on the move.
Stats are from 2020 to current using ~2% risk.
Entry: immediate
Target: when the trade changes down
Stop: $125 below entry
2) A high volume drop signaled there was more to come. ETHUSD would lose ~25% over the following days. High gas fees and DeFi competition from BNB were blamed. I took profit at this area, as seen in the related idea on BTC.
3) The entire crypto market just couldn't drop lower that about a 25% drawdown. When price stops making progress in one direction, it often turns around and tests the other side.
4) And price goes from a trading range to trending UP! The range expanded upwards and ETH is back on the move.
Stats are from 2020 to current using ~2% risk.
Entry: immediate
Target: when the trade changes down
Stop: $125 below entry
Trade closed: target reached:
+14.6%!
