đ¨ETHEREUM has broken its major H1 trendline and is likely to retest from here. You can look for a short when the M30 zone I marked gets tested. You can also take a short from the current market priceđ¸.
ââ¨Iâm considering bearish trades because if you look at the H1 price action from April 21, a lot of liquidity was created there, and thereâs also swing-low liquidity below it. Thatâs another reason for my bearish bias. Retail traders likely bought at the H1 trendline, and their liquidity has recently been taken. Now price might retrace upward a bit to trap retail traders again, but we wonât take any buy trades without confirmation.
âIf you take a trade from the zone, set your first take profit at a 1:1 target, and the second at the liquidity below. And if youâve taken a short at the current price, then you can aim directly for the liquidity below as your targetđŻ
âđ˘Keep in mind that if you short at the current price, itâs not an ideal area to enter, so you should only take a 0.5% risk. When price reaches the M30 FVG zone, you can consider taking a 1% risk from there.
Always Manage Your Riskđ¨
