Short Scalp for ETH/USD

Day traders pay attention! This is a really nice scalp opportunity. People who only care about fundamental analysis shouldn't read this. Purely based on TA we can find a nice opportunity here for a short position.

The price has closed in on the important $240 level, where we have seen historical strong resistance. Important to notice is that this is not just a price based resistance level, but also a psychological resistance level.

We already get a small confirmation of a retracement, so this is a great moment to enter such a scalp. Leave some room for error by placing the stop loss slightly above $240. For the take profit I chose a price slightly above the important $225 level. By putting it a bit higher we maximize the chances of our limit order to get hit.

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!