On daily price is in sellers territory. We got a nice pullback to the 0.04907743 level and we turned many people into buyers. On trading time frame the recent buyer is taken away by the seller with lots of energy and the price shows that it can't make a HH as it leaves a probe or spike. This is a conservative entry and proper Risk Management needs to be taken. As we are correlating with BTC as BTC is on Bulls run and so, ETH has a weakness.
Stop loss: 0.0.0557986
Position Size: 1% Risk on your capital/3225.87
Risk/Reward: 1:33 So, Proper RR is maintained.
If TP is hit then we will be at 13% profit.
Buy from Sellers and Sell from Buyers.