Analysis: By looking at the chart of THETA we can clearly see an amazing downtrend forming on the market. We are at the top of a swing cycle where the GREATEST risk reward ratio is for those who are looking to short the market. Right now we are in a peak where I would like to see a dramatic crash way back to the normal 1$ level. Once we managed to hit that price level the risk reward ratio on the market will be in the favour of bulls. As a conclusion, I am looking to enter the market with the following SHORT position:
Trade: SHORT
Entry: 7.800$
1st target: 3.2$
2nd target 1.1$
S/L: 8.57$ (-9.8% RISK)
Trade: SHORT
Entry: 7.800$
1st target: 3.2$
2nd target 1.1$
S/L: 8.57$ (-9.8% RISK)
