BITMEX:ETHUSD had quite the selloff yesterday, lasting throughout the night. Ethereum dipped substantially further than Bitcoin, but I am not surprised based on how quickly it has gone up since the drop to the yearly low.
We seem to have found a potential temporary bottom at the 12-Hour Order Block, which I was expecting to be a Demand Zone. It wicked through it, but then quickly closed above the equilibrium.
I have entered a scalp long position targeting the 4-Hour breaker above around $218. This could potentially run a bit higher up to around $222, where I will be looking to flip short after closing this scalp long.
As always, this will depend on what price action looks like once we reach that level and I will post a follow-up chart if and when that happens.
We seem to have found a potential temporary bottom at the 12-Hour Order Block, which I was expecting to be a Demand Zone. It wicked through it, but then quickly closed above the equilibrium.
I have entered a scalp long position targeting the 4-Hour breaker above around $218. This could potentially run a bit higher up to around $222, where I will be looking to flip short after closing this scalp long.
As always, this will depend on what price action looks like once we reach that level and I will post a follow-up chart if and when that happens.
Comment:
Buyback volume looking fairly weak here, I will be moving stops up to break-even, but I still have some hope that we can flip short around $218.
Comment:
Taking some profit early on this scalp as the volume is looking fairly weak. Will let the rest ride.
Comment:
TP 1 has hit @ $214.90
Let's see if we can push up a bit further to reach our final target range of $218-$222!
Let's see if we can push up a bit further to reach our final target range of $218-$222!
Trade closed: target reached:
BOOM! Target reached!
I will post some new charts tomorrow.
Hope everyone had a chance to make some money on this move :)
I will post some new charts tomorrow.
Hope everyone had a chance to make some money on this move :)