Short-Term SHORT on ETHUSD after 51% Successful Trade Closed
Recently, a Sell Signal was generated on our platform using Parabolic SAR and Moving Averages with a massive 50.8% gain for #ETHUSD on a 2H Time Frame.
BUY signal triggered on 26 Jan 10pm at $167.
SELl signal triggered on 25 Feb 4pm at $251.
We are now analysing the short-term trend waiting for the system to trigger a new BUY signal.
The strategy worked as follows:
With MACD line below 0 levels, and Signal line above MACD line, the gap between the lines was increasing suggesting greater negative momentum and price volatility . The SELL signal triggered when the shorter Smooth Moving Average crossed below the longer Smooth Moving Average (50) and Parabolic SAR was above price. To maximize gains, the Sparkster platform generated a SELL signal at $251 for a 50.8% gain on the trade — as shown by the long green arrow on the chart.
Current Analysis on the 2-hour time-frame:
What we currently see is a double top with price heading down towards a previous high (pink support line) at around $223 where price previously consolidated (as shown by orange circle). This would give us about a 12% drop from the previous SELL signal, or a further 6% from current price. Then we'll see if support holds to start a new price increase (as per orange arrow).
We also note the Fibonacci Retracement 0.382 level shows confluence with the targeted support level .
See our related Ideas for longer time-frame analysis.
BUY signal triggered on 26 Jan 10pm at $167.
SELl signal triggered on 25 Feb 4pm at $251.
We are now analysing the short-term trend waiting for the system to trigger a new BUY signal.
The strategy worked as follows:
With MACD line below 0 levels, and Signal line above MACD line, the gap between the lines was increasing suggesting greater negative momentum and price volatility . The SELL signal triggered when the shorter Smooth Moving Average crossed below the longer Smooth Moving Average (50) and Parabolic SAR was above price. To maximize gains, the Sparkster platform generated a SELL signal at $251 for a 50.8% gain on the trade — as shown by the long green arrow on the chart.
Current Analysis on the 2-hour time-frame:
What we currently see is a double top with price heading down towards a previous high (pink support line) at around $223 where price previously consolidated (as shown by orange circle). This would give us about a 12% drop from the previous SELL signal, or a further 6% from current price. Then we'll see if support holds to start a new price increase (as per orange arrow).
We also note the Fibonacci Retracement 0.382 level shows confluence with the targeted support level .
See our related Ideas for longer time-frame analysis.
Комментарий:
As projected, the price is consolidating at around $223. Hopefully we will get a BUY signal on our platform soon.
Since we are at the beginning of a new month, here is our analysis on the monthly time frame. Momentum is up.
Since we are at the beginning of a new month, here is our analysis on the monthly time frame. Momentum is up.
A drop below could see price down to $177. We're watching the Sparkster backtester for a new BUY signal and will update at that point. Could it come as low as $130?