Technical analysis by MattArmstrong about Symbol ETH: Sell recommendation (8/18/2022)

A buddy nudged me about this idea, and I do see downside for ETH. That is a significant trendline that price has broken, now PA is below the EMA's with a classic "Bear Flag" on the 1H chart. In theory; the height of the flag pole should break to the downside at an equal distance. - in theory - It is important to mention, the engulfing candle.. a classic reversal setup right on the EMA's Let's see where this goes. My stop is a little close for my liking, but I did not feel compelled enough to move it...1% risk 2:1 RRTrades do not often work out that beautifully, but I'll take the win. Cheers Market.