Hi there
Pretty fresh trader here! This is my first published trade on TV, in an attempt to become a more accountable trader, I will be posting ideas here as part of my journaling process. Thanks for stopping by, and I really do appreciate your feedback and criticism! So lets get on with it...
Eth has had a pretty good run over the holiday season!
We have now been range bound for a considerable amount of time and we have been sitting in an ascending triangle for the last few days. Momentum is slowing and we are seeing some divergence on a few timeframes.
We are also moving into some pretty serious resistance. That, in conjunction with the quite inevitable pre fork selloff, makes me quite confident we are taking a trip down
I had a short fill at $159, and will be looking to ladder in more shorts on the swing highs up to around 170, which I think might roughly be the top.
I will be looking to take profits around the area of confluence at $120
Thanks and good luck!