A broken channel inside the channel give us a reason to short it now. Setting up a short trade on the chart now, SL TP AND ENTRY. This a typical ABC wave ( blue) after a ABC-wave( Red).
Pretty good Vera, good job on that one. Thank you for your time and effort.
MedinTrade
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@MedinTrade, @FUNTRADER-Vera PS : don't waste your time answering people like market data blahblah or whatever his name is...
mr_market_data
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how are you long yesterday and short the day after....come on.
FUNTRADER-Vera
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@mr_market_data, COME ON!
That becoz blue trend line was valid. And if that trend line was still valid, it will sent ETHUSD back to make a double top before dropping.
But a broken blue trend line would make wave 3 of the descending trend start.
And for our last analysis to long ETHUSD, stop loss was set at 1030,that was a trade with a reasonable RR ratio!