Ethereum Trading Oppurtunities

23 Aug 2023 · 1 min

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In this commentary, the speaker outlines a short‑position trade idea on Ethereum (ETH) centered around a target price near $1,711. He explains how to draw Fibonacci levels to identify the current area of value, describes the process of sweeping range highs and lows to locate liquidity zones, and proposes entering a short when ETH revisits the identified range low. The trade is presented with a projected 5.6:1 risk‑to‑reward ratio, and the speaker mentions setting an alert to monitor the setup. The overall tone is instructional and confident, aimed at traders looking for technical‑analysis‑based entry points.

Chapters

Anyways, returning back to Ethereum, we're just going to do the same thing, draw a fib. And at the moment, that seems to be the area of value for Ethereum for a short, which is at around $1,711. So if you return back into this area, that's going to be an area where you can look to short, maybe take profit somewhere there. That's range lows. You sweep it, you sweep the range high. After range high, you come back, sweep the range low. Now you are in progress to sweeping the range high. So the next time that you sweep the range lows, which is liquidity here, here, here, and here, So basically, for example, I would do it like that where you sweep this target range high for a range extension to 1711, a bull picture. And, you know, a possible trade idea would probably look like this, which will net you like a 5.6 to 1 risk to reward ratio, which is still an amazing trade. In fact, I will set an alert right now just so I don't miss this.