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peterbhc
Oct 29, 2022 4:24 PM

ETH Rejection off Macro Trend Short

Ethereum / U.S. dollarBitstamp

Description

ETH is close to a local top.

I expect an impulse to around 1700 before heading down.

1D MA200 and Macro trend will act as areas for selling.

Good Luck

Comment



Descending trendline

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So far on track. Watch daily candle close for confirmation of a pivot

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There may be a push to test Macro trend/ MA 200 - there watch for reaction

Trade active



SHORT ETH from $1675

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S/L updated to $1630

Trade closed: stop reached



50% retracement is at $1642 - I have added more SHORT here and will DCA above it.

Trade active

SHORT entry is complete: Average entry is at $1651

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S/L to $1615

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S/L to $1585

Trade closed: stop reached

I will watch to SHORT again.
Comments
Solldy
This is an ambiguous situation for an asset, especially at the moment, so I think I'll skip this idea.
pochientevwuwv
ChartProphet
Very nice!
UnknownUnicorn15614419
Very nice work here, I like it. Thanks for sharing!
peterbhc
@TradingStat, YW, let's see what develops.
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