We could see price continue its upward momentum on ETPUSD.
Price has been consolidating into a nice pennant formation and will hopefully start to squeeze a little. I will enter short on a confirmed breakout (around $1.29) with protective stops under the previous low ($1.18).
Should price reach the projected target it will net in a 2.5R/R and 20% gain without leverage. It will of course depend on how the Bitcoin price moves.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active
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Price has broken out. Volume is not impressive, ensure stops are in place.
Trade closed: target reached
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Smashed it! Price has stop dead at our take profit zone. Congrats to all that took this trade!