TradingView
deadsquare214
May 12, 2021 1:22 AM

ETH Double Top Short

Ethereum / DollarBitfinex

Description

This is the continuation of a previous idea that I posted on ETH with a textbook hanging man. However, that idea would have only netted a rough 4% as it was followed by a 3 Crows and 3 Knights pattern. So I think the hanging man has been played this time. But, there may be a double top at play. Obviously we need to wait and see if this double top develops before taking a trade, since it could fail on way down to form some kind of bullish triangle, but I am leaning towards double top. Plus, maybe it just soars through this ATH and goes to the moon!


Lmk your thoughts!


Not advice. Not a recommendation. Just my opinions. Thanks for reading!
Comments
FrozenW1nd
I think more to sell. But it normally goes the other way (against what I thought)
deadsquare214
@FrozenW1nd, gotta watch out for the big money but I think we go lower from here. Lumber seems to be leading the way for markets these days
FrozenW1nd
big money behind this, all we need is wait for them to take profit
deadsquare214
@FrozenW1nd, thing the downtrend is over or more to sell?
powahousealex
That long wick has to be filled . Agreed.Take a look at my idea.
deadsquare214
@powahousealex, Thanks, will do!
shroomite1
Fail Whale
deadsquare214
@shroomite1, well said! haha
More