Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/03/03

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Market Overview

• Price Action: Ethereum is rallying off of the back of Bitcoin's rally, but has yet to go on a run of its own. Once we see ETHBTC bottom out and start to rally, thats when we will see ETHUSDT really move, especially if Bitcoin can stay stable for a period of time during the ETHBTC rally.
  
• Chart Patterns: N/A
  
• Areas of Interest: The area(s) of interest for me are the highs @ $1600. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time.
  

Long Trade Setup #1: Breakout and Continuation
1. Price Action: Price breaks above and falls back down to $1600 and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming

Short Trade Setup #1: False Breakout
1. Price Action: Price breaks above and then falls below the high @ $1600, forming a bull trap
2. Trade Entry Confirmations: A breakout candlestick followed by a breakdown candlestick, above average volume on both breakout candle and breakdown candle, MACD topping out

My Recent Trades

• 2021/02/21: I had a losing trade. I entered a long @ $1,970.0, with Stop Loss @ $1,868.6, and stop loss hit.
  
• 2021/02/20: I had two winning trades! I entered a ETHBTC long @ 0.035325, with Stop Loss @ 0.034577, and price reached a high of 0.036682, giving a risk reward ratio of 1.8:1. I entered another trade ETHUSDT trade long @ $2,003.1, with Stop Loss @ $1,965.6, and price reached a high of 2,022.0, giving a risk reward ratio of 0.5.
  
• 2021/02/07: I had a winning trade! I entered a short @ $1,605.00, with Stop Loss @ $1,628.14, and price reached a low of $1,563.9, giving a risk reward ratio of 1.8:1.
  

About Me

• I started trading in 2008, first got introduced to bitcoin in 2009, and have been actively trading cryptocurrencies since 2016.
  
• I have worked on Wall Street trading bonds, stocks, and options.
  
• I have taken hundreds of live trades, each recorded with over 50 data points, all meticulously analyzed, using data analysis and modeling to optimize win probability and risk reward.
  

Why Follow Me

• Daily analysis on the latest market movements and price zones for high probability trade setups.
  
• Sharing of live trades that I take.
  
• A great place to help each other, learn from each other, and grow together.
  
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DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I will not be responsible for any actions you take based on the analysis and comments that I provide. I am simply sharing what I am doing, and is not meant to be investment or trading advice. What you choose to do with the information that I provide is your own sole responsibility! The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!

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