Here's an update on the trade that I entered last night as ETH was breaking out on the 4HR:
Position Size: 10 ETH
Entry: $1,589.87
TP 1: $1725
TP 2: $1750
SL: $1480
My reasoning for entering the trade is as follows:
- I saw that we were going to get a Golden Cross (50 crossing above the 100SMA)
- the 9 also looked like we were going to cross above the 21 (bullish) which happened in the most recent candle
- we also has the 9 cross above the 21 on the daily TF
Overall my LT thesis is unchanged, and I will see further moves up as great shorting entries, but I do hedge my shorts with longs when the market looks ST bullish.
Enjoy
Position Size: 10 ETH
Entry: $1,589.87
TP 1: $1725
TP 2: $1750
SL: $1480
My reasoning for entering the trade is as follows:
- I saw that we were going to get a Golden Cross (50 crossing above the 100SMA)
- the 9 also looked like we were going to cross above the 21 (bullish) which happened in the most recent candle
- we also has the 9 cross above the 21 on the daily TF
Overall my LT thesis is unchanged, and I will see further moves up as great shorting entries, but I do hedge my shorts with longs when the market looks ST bullish.
Enjoy