VET showing signs of potential reversal

VET has been on a great uptrend for a while now, however has just broken the trend and is showing signs of a possible reversal. Creating a Lower High from previous High.

Showing potential for a short if the trend is rejected when tested.
Risk Reward Ratio showing 1.78 (38.2) 0r 3.8 (61.8) ration depending on Targets based on fibs.

Will be following to see what price action occurs at the trend line.

تعليق:

VET continues to play out as expected, however with Bitcoins rally in the past few days, VET's price is holding up well at the moment.

While a Lower High has been formed, it looks as if it may be consolidating rather than rejecting as expected.

Will continue to monitor as i expect a BTC and alts dip once this rally has played out.

Ideas and discussion welcome

تعليق:

I got in a bit lower than i would have liked for this Short, however it is looking quite good for now. A bit of a rally that may retest the new downtrend.

I'm still learning but im somewhat confident on this trade, just hope Bitcoin doesn't decide to pump alts and wreck the short haha.