Follow up on previous eth shorting strategy.
Is completing the triangle and has made 3 waves with counts 5, 5, 3, meaning this is probably the last time it will touch the top of the triangle before dumping.
I am scaling in right now, have first fill at 409.5. There is a binance seller wall at 411.6 which I think the market will respect. I don't expect to get any fills above that and it might be a good way to protect stops.
Will scale in more in the "Short Entry Area" box on the chart.
BTC is currently moving up a little and when that is over I expect eth to exit the triangle with a 5 wave motive movement down.
Same targets as in previous chart.
Is completing the triangle and has made 3 waves with counts 5, 5, 3, meaning this is probably the last time it will touch the top of the triangle before dumping.
I am scaling in right now, have first fill at 409.5. There is a binance seller wall at 411.6 which I think the market will respect. I don't expect to get any fills above that and it might be a good way to protect stops.
Will scale in more in the "Short Entry Area" box on the chart.
BTC is currently moving up a little and when that is over I expect eth to exit the triangle with a 5 wave motive movement down.
Same targets as in previous chart.
注释
Have an average fill at 407.97 short. Stop is 416 and probably a little too wide.Target is 360, expecting it to go through 400 because of the triangle shape that has swamped the 400 support level.
If BTC shows strength will tighten stop much more.
Currently about 6 RR.
注释
There is also an intermediate target at 378.5 which matches with prior price cluster and an extension of the current triangle range
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