Ethereum (ETHUSDT) Daily Long&Short Trade Setups 2021/03/08

Hi guys! I will be sharing the trades that I take in real time, follow to see how my trades work out!
If you like this post, please support me by clicking the like and follow buttons. Also feel free to share your thoughts and analysis in the comments below!
And don’t forget to check out my daily analysis on Bitcoin, Ethereum, and Altcoins!

Market Overview

• Price Action: Ethereum has been in a strong uptrend for the past couple of days, with the most recent rally taking price from 1440s to 1750s, a rise of over 20%. ETHBTC pair also seemed to have found a bottom, suggesting a potential ETH bull run, which could also usher in an altseason.
  
• Chart Patterns: N/A
  
• Areas of Interest: The area(s) of interest for me are the S&R Flip @ $1700 and the 200MAs @ $1630-1650. Once price reaches one of these areas, I will monitor for entry confirmations. If the entry confirmations are aligned, I will take a trade and share the my trade in real time.
  

Trade Setups
Below are the potential trade setups that I would be interested in trading:

Long Trade Setup #1: Retest and Continuation (S&R Flip)
1. Price Action: Price needs to move back down to the S&R flip @ $1700 and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, Above average volume, MACD bottoming

Long Trade Setup #2: Retest and Continuation (200MAs)
1. Price Action: Price needs to move back down to the 200MAs, currently projected to be @ $1630-1650 by the time price reaches it, and bounce back up.
2. Trade Entry Confirmations: Bullish candlestick pattern, above average volume, MACD bottoming

My Recent Trades

• 2021/03/05: I had a winning trade! I entered a long @ $1,540.0, with Stop Loss @ $1,522.4, and price reached a high of $1,670.0, giving a risk reward ratio of 7.4:1.
  
• 2021/02/21: I had a losing trade. I entered a long @ $1,970.0, with Stop Loss @ $1,868.6, and stop loss hit.
  
• 2021/02/20: I had two winning trades! I entered a ETHBTC long @ 0.035325, with Stop Loss @ 0.034577, and price reached a high of 0.036682, giving a risk reward ratio of 1.8:1. I entered another trade ETHUSDT trade long @ $2,003.1, with Stop Loss @ $1,965.6, and price reached a high of 2,022.0, giving a risk reward ratio of 0.5.
  

DISCLAIMER: I am NOT a financial advisor and this post is NOT financial/investment/trading advice. I am simply sharing what I am doing, and I will not be responsible for any actions you take based on the analysis and comments that I provide. The cryptocurrency market is extremely volatile, and you WILL lose all your money if you are inexperienced! DO NOT risk any money that you cannot afford to lose and always be cautious and manage your risk!

What are your thoughts? Please leave your ideas and analysis in the comments below! Do give the post a like and a follow.