Ethereum - Short Scenario

Aug 9, 2019

I am under the impression that we might slide down into the 100's on the Ethereum daily chart. I have shown the 3 areas that I plan on taking profits. Personally I will be moving my stop forward as the position gets moving. This is NOT trading or financial advice. This is 100% speculation and art. Trading/investing is risky, do it at your own risk. If this goes up instead of down and we break above 240's again, I would expect to test the 270 zone.

Aug 10, 2019

Note

Okay, so I stopped out partially in profit from the original entry. I mentioned I was using a trailing stop, but my last stop was at entry(217s). What this did for me - this strat let me lock in guaranteed profit from a successful trade, the trailing stops that were executed all added to my pnl in a good way. The last stop at entry was not hit so my exposure has been reduced but I still have some skin in the game. And as you can see it has paid off. From this point I will not add to the position, but I did move my stop from 217s to 208. What this does for me is guarantees that even if it goes back up my position fully closes in the green. It also gives me an opportunity to reevaluate the market sentiment and determine if there is a clear trend change, or a possible re-entry zone with a good RR. If not, then I will be patient until I find the next best trade setup for me.

Aug 11, 2019

Note

I was stopped out at 208, Just re-entered for same position at 213, I have sell orders laddered to 222, stop at 230. Aiming for same short targets on the original chart.

This is not financial advice. Trading/investing is risky, do so at your own discretion.

Aug 14, 2019

Trade active

We lost the 200s as expected, we are roughly at 188 right now. I expect to hit the 175sh target very shortly. I will re-evaluate once the target is hit. My stop has moved from 230 to 201. My short entry is 214.

Aug 16, 2019

Note

We hit the 2nd target right around the 175 area like I was originally thinking.. I expected a bounce going back up to test the old resistance zone in the 190-200 region, with a possible wick going up to the 204 zone. I took a lot of profit when we hit the target. As I mentioned in the previous update that I moved my stop from 230 to 201, I actually pushed it back to 205 now. I have not added anything to the position since we have entered the 100's, for now I am going to let this position sit and stay active. At the current moment I am still expecting to get to the 3rd and final target I will update if I get stopped out, or if I decide to add anything to my position. Current entry is 214, I might add to it if we get closer to 200 and it looks bearish still.

Aug 21, 2019

Trade active

So as I mentioned on the 16th that I was expecting the price to bounce from the 175 area up to the 204 area.. It did bounce, depending on what exchange you are on it should of reached the area I mentioned. On Kraken price reached about 203.60sh before it was rejected. Luckily my stop was not hit, I added a small amount to this position in the 190's and now I am still looking for the 3rd target in the 140's. My stop has not moved it is currently at 205 as I mentioned in the previous post.