REACTING TO THE ECONOMIC NEWS ON ETH 05/05/2021
Yesterday was a wild day for Crypto, Stock and Indices (this gave us intraday traders an exciting day)
A half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation.
ETH failed to reclaim back the $3000 mark and we had a picturesque Supply Pattern.
Stop loss = 1% Risk
Take Profit = 5.6% Reward
R/R = 5.60/1
Due to the High Volatility we scaled to the 15m to action this trade.
Hope you enjoy this trade idea.
A half-point interest rate hike by the Federal Reserve, the largest hike since 2000, which was done in an attempt to corral record high inflation.
ETH failed to reclaim back the $3000 mark and we had a picturesque Supply Pattern.
Stop loss = 1% Risk
Take Profit = 5.6% Reward
R/R = 5.60/1
Due to the High Volatility we scaled to the 15m to action this trade.
Hope you enjoy this trade idea.