Broader Trend - Swing ETH Long to 200

BITMEX:ETHUSD   ETHUSD Perpetual Futures Contract
I'm currently in an ETH scalp short to $162, but always plan ahead. The broader trend is upward, so whether or not my short works out, I'm ready for the next upward move.

On the 12H, we see bullish momentum is picking up based on RSI and price action. We're seeing thicker candles in the bullish direction, which is a good sign.

We recently double-tapped the bottom of the channel with strong bullish divergence on RSI . Each time we've touched the bottom of the channel with this strength of bullish divergence , we've succeeded in smoothly reaching the top of the channel not too long after (~2 weeks). It's already been one week since touching the bottom of the channel, so I'm expecting some bullish volume to pick up and drive us up to the top of the channel this time as well.

I will enter when the 12H closes above the 166-168 strong resistance range.

Entry: 169.2
TP: 197.5
S/L: 163.55
R/R: 5
Trade active: Entered a stop-buy position at 169.2.

Hoping to add to the position after some correction and a bounce after a successful retest of 168 support.
Trade closed: stop reached: Stopped out unfortunately before the big jump.

Need to place stops with more space to give room for volatile trades to play out.
Twitter: @UdotongE


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