Short ETH/USDT (inside the pattern trade)
1.) Failed to break resistance within the pattern, likely to retrace to the support level.
2.) UCS_SMI crossed, and still in overvalued territory
3.) Moving averages on the MACD crossed as well.
4.) bearish divergence on the MACD playing out now.
Note that this is a trade within an existing pattern, stop loss should be at resistance.
2.) UCS_SMI crossed, and still in overvalued territory
3.) Moving averages on the MACD crossed as well.
4.) bearish divergence on the MACD playing out now.
Note that this is a trade within an existing pattern, stop loss should be at resistance.
Comment:
Forgot to say one thing. Based on the shared trade setup, the best entry point was at the resistance line. So entering at this point would not be the BEST entry.