This is a terrible trade. When BTC goes down, it drags ETH down + when BTC goes up, ETH stays level. There is incredibly negative market sentiment around ETH at the moment, and it is widely expected to go to $150 or $100 for plenty of reasons. Just one for example are all the ICOs selling off their ETH to fund their projects/lock in what profit they have left. Plus Bitcoin is desperate to go down to $5200 which will bleed plenty of altcoins dry (thank goodness... we need a clear-out).
Ultimately the chance of your stop loss being triggered must be 80% vs the upside potential 20%. And even Vitalik Buterin is giving out negative sentiment daily... ETH is nowhere near a recovery.
Trader-looser
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@BCryptological, The risk/reward ratio (above) = 3.4 that is good enough.
Concerning "ICOs selling off their ETH...negative market sentiment... Vitalik talkings", etc. _ all these news noises don't relate to trading based on technical analysis.
Moreover, when the crowd listen to negative news and believe on them then it's an ideal time to start trading in opposite direction.
BCryptological
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@Trader-looser, But ultimately you present a bull market bias during a bear market. ETH has been in a near free-fall since $838 (unlike most alts who show some resilience).
Since my first reply ETH has already dropped to $182... so your stop loss has already been triggered and it was a loss making trade.
Ultimately the chance of your stop loss being triggered must be 80% vs the upside potential 20%. And even Vitalik Buterin is giving out negative sentiment daily... ETH is nowhere near a recovery.