ETH short term trading setup!

2 thg 11, 2020

ETH/USD just formed a nice short opportunity. The 4H bar closed below the upper side of the trading base ($334-$395), breaking October's POC. If the price will be able to stay below the level of $395, then we would probably see the downward movement toward the bottom of the trading base. At the bottom of the trading base, we can see a nice accumulation towards which the price will aim to go.

Trading Setup.
Entry: $392-$396
Stop-Loss: $406-$408
Take Profit: $345-$348
Risk-reward: 4:1

Overall, ETH is still in the upper trend from march 2020, therefore in the macro picture, this is counter-trend trade.