ETH/USDT is currently exhibiting bearish signals, characterized by a pattern of lower highs and lower lows, indicating a potential downward trend in the market. With this analysis in mind, a short trade plan has been formulated to capitalize on the anticipated price movement.
Trade Plan:
Entry Point: Positioned at 3444.47, this entry point marks the initiation of a short position, aligning with the bearish sentiment observed in the chart.
Stop Loss: Set at 3558.22, the stop loss serves as a critical risk management tool, limiting potential losses in the event of a sudden market reversal.
Lot Size: Determined at 0.88, the lot size ensures optimal risk management and capital preservation in accordance with the trader's risk tolerance and account size.
Take Profit (TP1): Targeted at 3330.72, TP1 represents the first profit-taking level, maintaining a Risk Reward ratio of 1%, allowing traders to secure partial profits as the price declines.
Take Profit (TP2): Positioned at 3216.97, TP2 offers a higher profit target with a Risk Reward ratio of 2%, reflecting the anticipation of further downward movement in the price of ETH/USDT.
Trade Plan:
Entry Point: Positioned at 3444.47, this entry point marks the initiation of a short position, aligning with the bearish sentiment observed in the chart.
Stop Loss: Set at 3558.22, the stop loss serves as a critical risk management tool, limiting potential losses in the event of a sudden market reversal.
Lot Size: Determined at 0.88, the lot size ensures optimal risk management and capital preservation in accordance with the trader's risk tolerance and account size.
Take Profit (TP1): Targeted at 3330.72, TP1 represents the first profit-taking level, maintaining a Risk Reward ratio of 1%, allowing traders to secure partial profits as the price declines.
Take Profit (TP2): Positioned at 3216.97, TP2 offers a higher profit target with a Risk Reward ratio of 2%, reflecting the anticipation of further downward movement in the price of ETH/USDT.