Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/01/26

26 Jan 2021

Live trades will be called in the latest daily post. Follow me to trade live with me!
Also check out my daily post on Bitcoin!

MARKET OVERVIEW

• Price Action: ETH retrace 12% to a low of $1294 after creating a new alltimehigh @ $1475 and is now consolidating at the 200MAs.
  
• Chart Patterns: No patterns.
  
• Areas of Interest: The area(s) of interest for us are the highs @ $1475. Once price reaches one of our areas of interest and gives us a valid entry signal, I will update the trade, so make sure you follow me to get the trade entry signals in real time.
  

TRADE SETUPS
Below are the potential trade setups that I would be interested in trading. Regardless of the path that the price takes, I will be monitoring the market for a valid trade entry signal.

Short Trade Setup #1: False Breakout
To open a short position, we are waiting for price to break above the horizontal resistance and then fall back down.
1. Price Action: Price breaks above and then falls below the high @ $1475, 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

TRADES RECAP: LATEST 3 TRADES

• 2021/01/11: We had losing trade! We entered a long @ $1024.8, with Stop Loss @ $971, which was hit.
  
• 2021/01/10: We had winning trade! We entered a long @ $1283, with Stop Loss @ $1247, and price reached a high of $1325, giving a risk reward ratio of 1:1, meaning if you risked 1BTC on this trade, you could've made 1BTC.
  
• 2021/ 01 /07: We had two winning trades! We entered a short @ $1213, with Stop Loss @ $1224, and price reached a low of $1159, giving a risk reward ratio of almost 5:1, meaning if you risked 1BTC on this trade, you could've made almost 5BTC. After our short trade, we had a trade of a new experimental trendline strategy. We entered a long @ $1194, with Stop Loss @ $1173, and price reached a low of $1289, giving a risk reward ratio of almost 4.5:1, meaning if you risked 1BTC on this trade, you could've made almost 4.5BTC.
  

Why Follow Me

• Daily analysis on the latest market movements and price zones for high probability trade setups.
  
• Live trade signals so that you can take the same trades that I am taking.
  
• A great place to help each other, learn from each other, and grow together.
  
• Trading education in the form of personal advice and educational materials
  
• Constantly testing and adding new trading strategies and refining battle-tested ones.
  

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 worked at top consulting firms advising Fortune 500 companies and worked on 10Billion+ deals.
  
• I have founded and advised blockchain projects and companies, including in the areas of defi, nft, data ownership, and personal identity.
  
• 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.
  

DISCLAIMER: I'M NOT A FINANCIAL ADVISOR AND THIS IS NOT FINANCIAL ADVICE, AND I WILL NOT BE RESPONSIBLE FOR YOUR WINS OR LOSSES, DYOR.

Please support me by liking, sharing, commenting, and following, and sharing your ideas and analysis below! Thanks!