$ETH Short Now to 1292 (Scalpish) *SMT* EDIT: SL Change

SMT = See related idea about "Smart Money TA"

Price has broken buy side liquidity. Retail is expecting a breakout. And it's doing a good job of acting like it is going to continue upward Nope, It is now looking for an Imbalance. Below is a 4 HR Fair Value Gap. I'm being conservative and only reaching for the 62% retracement of the pullback. Additionally it would break the liquidity sitting at 1294.27. it could get deeper, it also may not.

I edited the SL Because Price could possibly reach up tot the 15 minute Bearish Order Blocks.

Entrance - now (1313.40)
S/L - 1329.61 (Edited)
TP - 1292.45

ETHUSDT
ETHUSD
ETH1!
CME:ETB1!

Comment:

Final take profit if you want to remove 80-90% of your earnings would be

1287.40

(Chart With New SL)

P.S. - Fib placement lesson. Your Fib should be placed at the last low before a bullish run breaks the nearest high, on the 15 min there are about 3 highs at 1292.51 ish (manufactured liquidity). Once that is broken then and you have a top then you know where to place your bottom fib. the 92% to 88.6% I9s where smart money (Institutional Traders, people that know how to Average there cost) like to buy. M exit is that entrance

Trade active:

Smart Money Exhibit A: Act like there's a "Support" Line. Let retail Buy... and the institutions will eventually drive it down.

Trade active:

4th times a charm to break liquidity line?

Trade active:

Just woke up to see that 30 % of my trade was banked as profit as I had set that up before I went to bed at 1302. 1313 to 1302 leveraged at 15x isn't bad. (1302 was in a fair value gap) Plus I also had a small position fro,m another account when it went higher at about 1317.75 that one was 5x lever and it ended at 1302. So to protect my earnings I'm moving S/L down to 1320. If it hit's that with out taking any more profit I've pretty broke even with two positions.

I tossed in a small amount to add to my short position. since it already retraced up a little. Where to from here? My target of course ;)

Comment:

P/S/ the golden box is a 4 hour fair value gap, so I knew it would fill it. but the 15 min chart is just wicks through it. It needs full bodied candles. within it closing. Otherwise it's guaranteed to go down further.

Trade active:

The current run up has been halted by the breaker formation.

What could possibly be bad about this is that the price slowly movesdown to the bottom of that box (It's actually, that last bullish candle before the drop, it's that candle's high to low) Price could get to the bottom and that could be the new support. If that candle closes above the previous highs (2300 on the 4 hour cental and 3 am on the 1 hour central) then I'll wait till price drops to the bottom of the box drawn and I'll take what profits I have and I think I'll be out. I may leave about a 2% trailer just in case.

Comment:

Ihate when im right abouth those things. to the bottom of the breaker (golden box) and off it went. good thing i anticipated it and closed out my trade at 1311.

These are the things I have been taught to recognize. When the price gets across tothe otherside of the breaker (This time it was the higher price) then the lower side ofr the breaker becomes support. Also, you can see the on the hourly chart, price dips into the Fair Value Gap creating an Institutional Order Flow Entry Drill (IOFED). At that point I closed my trade. They can't all be big winners, but at least I anticipated that move and escaped without a loss. Smart Money willl teach you these things. And I'm learning about the IPFS now So I can put My own Mentorship Class on te secured App, wgitelist it so those that want to learn, will have a unique ID and will be the only ones to learn. Streaming EDUCATION ONLY, no downloads, but access is forever. If your interested in Smart Money and knowing these little details that wioll save you from losing... contact me ASAP!