ETHUSDT.5S trade ideas
[Crypto] ETHUSDT Compression PatternNote -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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ETH is preparing for a huge movementSimilarly to BTC, ETH is probably forming a horizontal triangle, in fact, a huge one whose targets are astronomical, ~$4000 if it breaks to the upside, $1240 if it breaks to the downside. The upper resistance matches another important level, the EMA ribbon, which ETH is right now battling against, therefore, if ETH were to break to the upside, we would technically be bullish again.
Another important thing to notice is the decreasing volume, which is a clear indication that ETH is preparing to make a movement. Either direction, it is important to wait until we have a significant volume that confirms the breakout.
Remember to trade safely and let me know what you think about this idea.