TRADE SETUP
ENTRY: 178.18 (0.25 pivot) - Mech Short
STOPLOSS: 180.10
TP1: 170.38 (close 40% and move stop-loss to 174.84)
TP2: 165.05 (close 30% and move stop-loss to 170.38)
TP3: 162.15 (close remaining 30%)
Why was this trade taken?
ENTRY: 178.18 (0.25 pivot) - Mech Short
STOPLOSS: 180.10
TP1: 170.38 (close 40% and move stop-loss to 174.84)
TP2: 165.05 (close 30% and move stop-loss to 170.38)
TP3: 162.15 (close remaining 30%)
Why was this trade taken?
- ETHUSD bounced off the 174.84 support 3 times, each time making a lower high, thus forming a descending triangle.
- Mechanical short at 178.18 after reaching ignition at the midpoint 0.5.