swilton

ETH Scalp Experiment

Long
COINBASE:ETHUSD   Ethereum / U.S. Dollar
I usually don't post on such short timeframes, but I like this setup. Some overhead resistance on short timeframes, but I expect a small move for +5% gain in less than 24 hours. It could go higher, but I expect it to at least stop to think at these resistance levels. A breakdown below the local low will invalidate this setup. Let's see what happens.
Trade closed: target reached: Target reached. If a breakout does not occur soon, watch for the blue zone. It is a lower probability and weaker zone, but likely to get some reaction if it slips. Otherwise, higher targets are possible. For short timeframe scalp trades like this, my strategy is to play all possibilities at the same time. Continuous sell pressure in my target zones up to ~75% of my opening position, look for areas below to reload in case of a dip, and keep ~25% left over to shoot for higher targets (e.g. $213.5) in case the market unexpectedly zooms.

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