ETH long fomo (only 1,18R)
Updated
My hypothesis:
I will trade this setup. It will only get triggered if some important resistances are broken:
o Two rectangle resistances from a sharp move down.
o The resistance from the upwards channel
o Upper Bollinger Band
o And the resistance of a downtrend from a higher time frame
Target:
o I'll take some profit at a rectangle resistance from a sharp move down and
o befor a resistance from a diagonal uptrend. But I expect the latter to be weak.
Stop-loss:
o At the break of the upwards channel support.
o Once the setup has been triggered a better stop-loss might have been appeared
Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.
I will trade this setup. It will only get triggered if some important resistances are broken:
o Two rectangle resistances from a sharp move down.
o The resistance from the upwards channel
o Upper Bollinger Band
o And the resistance of a downtrend from a higher time frame
Target:
o I'll take some profit at a rectangle resistance from a sharp move down and
o befor a resistance from a diagonal uptrend. But I expect the latter to be weak.
Stop-loss:
o At the break of the upwards channel support.
o Once the setup has been triggered a better stop-loss might have been appeared
Disclaimer:
I'm a bloody beginner and I'm only publishing that to put some pressure on my to plan and review my trades correctly. This is why it is obviously not financial advice.
Note
Position size:It will be the full planned size for ETH which is 20% of my whole investment volume.
Note
Upper BB will provide as a resistance that has to be broken as well.Note
I generally have a bearish bias and plan to trail this long on the way down for the case the trend reverses.Order cancelled
Canceled in favor of a better idea based on new price structure:
Disclaimer
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