TraderEngineering

Ethereum finally fell into my buy zone this past week and I was able to buy with an average price of $2,185.18. This is a target I've been watching for months in anticipation. The best part is that it may go lower!How do we trade this? 🤔ETH has landed on a key support area of $2,100 and is now flirting with falling to the .236 Fib level at $1,800. A final target would be around $1,500 which brings us back into the bear market range. ETH formed a triple top over the course of 2024 and as expected, it pulled back hard with the alt market.Bitcoin Dominance has been in a bull trend since the last cycle and hasn't shown any signs of weakness yet. Currently at 62%, it could jump up to 70% easily. Until it drops, ETH and the alts are going to remain bleeding out.I'm targeting the previous all-time high for a first profit target, around $4,800. Whether I take profits at that level depends on the price action leading up to it. If we get a strong push with strong candle closes leading up to that price, I'll likely hang on. Otherwise, I may take 25% of my position off the table and look for a potential re-entry.Final target price is $6,750, just below the 1.618 Fib level. This level also corresponds with a measured move target if the price attempts $4,000, pulls back to the 3-Year Support, then moves up again. I believe $10,000 ETH is absolutely possible for this run, but given how slumpy the alt market is, I don't see that probability being as high as the previous high of $7,000. This is why I'm taking my profits before that 1.618 Fib level is hit.💡 Trade Idea 💡Long Entry: $2,185.18🟥 Stop Loss: $700✅ Take Profit #1: $4,800✅ Take Profit #2: $6,750⚖️ Risk/Reward Ratio: 1:3🔑 Key Takeaways 🔑1. 2024 Triple top led to a retrace down to the 2023 range.2. First buy at $2,185.18, potential buy at $1,800 and $1,5003. Stop loss at $700 below the 2022 bear market low4. Holding the position until the previous all-time high around $4,850 where the first take profit waits. $6,750 is the second take profit just before the 1.618 fib level5. Weekly RSI is near 34.00 and below the Moving Average. This is a good level to buy.💰 Trading Tip 💰Ascending Wedges signal an increased probability of a bear breakout. Combined with three pushes up in a bull trend and strong sell bars (candles with large wicks on their tops), creates conditions where a counter-trend trade is reasonable.⚠️ Risk Warning! ⚠️Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!Like 👍 and Follow to learn more about:1. Reading Price Action2. Chart Analysis3. Trade Management4. Trading PsychologyThis area around $2,000-$2,100 is very strong support. What we're looking for now is likely a few weeks to a couple of months of consolidation, following a strong bull candle to the upside closing on or near its high.If we go lower toward the $1,500 range, you might catch me adding to this position to bring my average buy down.

The short version, the probability that Bitcoin tests the breakout price around $69,500 is very high. That's simply the nature of breakouts; bulls take profits (sell orders) until the previous high is reached, at which point the bulls start buying again, and the bears take their profits (buy orders), driving the market up for another leg.The question is, what is our next move as traders? Or even Bitcoin investors?How do we trade this? 🤔Let's zoom out to the Monthly chart. Bitcoin is resting on the 9EMA, a support area we've closed above it since September of 2023. Our current context is we've broken out of the 2021 cycle high of $69,500 and reached a new high just shy of $110,000. It's clear we're in pullback mode right now, so far-reaching down to $78,000.Fundamentally, there aren't many catalysts for bullish activity. Bulls are simply taking profit at the first 6-figure Bitcoin price, which is both a psychological and technical price for selling. Monetary policy is still in a state of qualitative tightening, inflation has been slowly rising since September 2024, from 2.4% to 3%. Not a dramatic move, which certainly isn't helping Bitcoin move to the upside. Bitcoin seems to respond more to monetary policy than inflation rates and while the rates have steadily climbed, it's not enough to shock the market, while monetary policy has largely stayed the same.Technical analysis shows TOTAL, TOTAL2, and TOTAL3 crypto market cap charts all were rejected at key resistance areas in early December. Bitcoin broke the 2021 right shoulder around $46,000 to $73,000, then had a measured move up to $109,000, about a 55% move each, give or take. We're simply in a state where we've reached a key resistance level after a breakout while the market as a whole is in a state of uncertainty. I believe that uncertainty will lead to a capitulation down to the high $ 60,000s, even if it's a quick wick. This would likely lead to a $1,500 ETH, $1.50 XRP, it may look ugly. But take a look at past cycles; a 30-40% pullback for Bitcoin is just another Thursday in the crypto market. The alts can pull back as much as 50%-60%.I think we wait for the buy signal. Look for a pullback to the breakout area at $69,500, and wait for the market to tell us that we found the buy zone with a strong candle close on or near its high on the Daily chart, likely somewhere around $75,000. Then I believe $150,000 is the area for this cycle high based on the Lifetime Resistance and measured move target. The measured move shows a 57% move up after the breakout; if we take that 57% move up and stack it on the mid-price of the current trading range at $91,000, that takes us to right around $150,000. Anything beyond that is a bonus. I think from there, it makes a second attempt to breach the high, followed by our 12-18 month bear market as shown in the chart.💡 Trade Idea 💡Long Entry: $75,000🟥 Stop Loss: $55,000✅ Take Profit #1: $105,000✅ Take Profit #2: $135,000⚖️ Risk/Reward Ratio: 1:3🔑 Key Takeaways 🔑1. Breakout above 2021 Cycle High $69,5002. Psychological and technical high of $100,000 reached3. Pullback phase has been in motion since December, breakout zone is the buy target4. Wait for a two-legged pullback toward the Monthly 30EMA (breakout zone), look for strong buy signal, large bull candle closing on or near its high.5. RSI is near 64.00 and below the Moving Average. Wait for contact and a drop toward 60.00 in concurrence with the price action to enter.💰 Trading Tip 💰It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account.⚠️ Risk Warning! ⚠️Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!Like 👍 and Follow to learn more about:1. Reading Price Action2. Chart Analysis3. Trade Management4. Trading PsychologyA quick update! I'm long in ETH, but BTC's movement are obviously driving my other crypto trades.First, an autocorrect issue in the original post: QUANTITATIVE tightening, not qualitative.Second, the FOMC is this week and will likely not render a change in monetary policy. This will likely send the market lower; BTC may hit $72,000 or wick lower as a result.We should wait for this move to complete then look for a strong bull response before entering any further capital into the market.More updates soon!-Joe

Since my April 24th update, ICP has fallen into a pullback, as expected. We found resistance just shy of $21.00 and then pulled back in two strong legs. Should we be bearish or bullish on ICP?How do we trade this? 🤔As expected, ICP found resistance at the Resistance Zone of below $21.00 after three strong pushes up followed by a head and shoulders reversal pattern. That reversal pattern played out into a two-legged pullback, leaving us below the Support Zone at a low of $5.80. We now see the price strongly responding to this are and is now above the Support Zone with a strong bullish candle closing on it's high.It's reasonable to enter a long here given that strong bullish candle close. It would not hurt to wait for a confirmation candle but since we've closed above support, you could take a slightly lower probability trade here and have a high probability of hitting the first take profit target of $11.225. Once that target is hit, take half profits at 1:1 Risk/Reward, moving the stop loss up to the entry price, then swinging the latter half of the position to 1:2 Risk/Reward.We also need to watch Bitcoin's sentiment as the price action plays out. I expect Bitcoin will fall into a two-legged pullback to around $40,000-$45,000, which should take the alt market down with it, either keeping it in a trading range or bringing it to lower lows. Until Bitcoin's sentiment shows a clear bull signal after a likely pullback, it's one more indicator we should allow to play out before getting long in DOGE.A final point of data is the RSI low and above the moving average of around 56.00. This indicates we are into the swing high and a long entry at this stage is warranted.💡 Trade Idea 💡Long Entry: $8.45🟥 Stop Loss: $5.675✅ Take Profit #1: $11.225✅ Take Profit #2: $14.00⚖️ Risk/Reward Ratio: 1:2🔑 Key Takeaways 🔑1. Three legs up toward a resistance zone after a breakout2. Head and Shoulders reversal pattern3. Two-legged pullback to the Support Zone at $8.234. Long entry justified at current Signal Candle close above Support Zone5. RSI at 56.00 and above the moving average. Supports a long entry.💰 Trading Tip 💰The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades.⚠️ Risk Warning! ⚠️Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk!Like 👍 and Follow to learn more about:1. Reading Price Action2. Chart Analysis3. Trade Management4. Trading Psychology

Since my April 13th update, DOGE has fallen into a pullback, as expected. We found resistance at $0.225 and then pulled back in two strong legs. Should we be bearish or bullish on DOGE? How do we trade this? 🤔 As expected, DOGE found resistance at the 2021 resistance area of below $0.29 after three strong pushes up followed by a head and shoulders reversal pattern on the Daily chart. That reversal pattern played out into a two-legged pullback, leaving us near the Weekly 200EMA support at around $0.10. I think we can expect to continue testing this support area for a while. I do not believe we will break and hold below $0.10. I would not enter a long just yet. What we need now is two or three tests of the Weekly 200EMA support area around $0.10, forming a double-bottom or reverse head and shoulders pattern. A good strong bull signal candle followed by a confirmation candle is the signal we need to enter a long position, taking half profits at 1:1 Risk/Reward, moving the stop loss up to the entry price, then swinging the latter half of the position to 1:3 Risk/Reward. We also need to watch Bitcoin's sentiment as the price action plays out. I expect Bitcoin will fall into a two-legged pullback to around $40,000-$45,000, which should take the alt market down with it, either keeping it in a trading range or bringing it to lower lows. Until Bitcoin's sentiment shows a clear bull signal after a likely pullback, it's one more indicator we should allow to play out before getting long in DOGE. A final point of data is the RSI low and below the moving average of around 43.00, which could remain in this area for some time. This indicates we should be looking for long entries, but should wait for the price action to guide us. 💡 Trade Idea 💡 Long Entry: $0.10975 🟥 Stop Loss: $0.07210 ✅ Take Profit #1: $0.14725 ✅ Take Profit #2: $0.22275 ⚖️ Risk/Reward Ratio: 1:3 🔑 Key Takeaways 🔑 1. Three legs up toward a resistance zone after a breakout 2. Head and Shoulders reversal pattern 3. Two-legged pullback to Weekly 200EMA Support 4. Wait for a double-bottom followed by a strong signal and confirmation candles 5. RSI at 43.00 and below the moving average. Supports waiting for a long entry. 💰 Trading Tip 💰 Ascending Wedges signal an increased probability of a bear breakout. Combined with three pushes up in a bull trend and strong sell bars (candles with large wicks on their tops), creates conditions where a counter-trend trade is reasonable. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology

FTM fell into a pullback as expected since my April 11th update. We found resistance at $1.25, created a micro double-top, then pulled back in two strong legs, but truly 3 in total. Should we be bearish or bullish on Fantom? How do we trade this? 🤔 FTM predictably printed a double-top after three strong pushes up into the immediate resistance zone of $0.97 to $1.25. That reversal pattern played out into a three-legged pullback, leaving us near Push #1 support at around $0.40. I think we can expect to continue testing this support area for awhile, however, I do not believe we will break and hold below $0.40. I would not enter a long position just yet unless you're fading into a position. What we need now is two or three tests of the Push #1 support area between $0.35 and $0.40, forming a double-bottom or reverse head and shoulders pattern. A good strong bull signal candle followed by a confirmation candle is the signal we need to enter a long position, taking half profits at 1:1 Risk/Reward, moving the stop loss up to the entry price, then swinging the latter half of the position to 1:2 Risk/Reward. We also need to watch Bitcoins sentiment as the price action plays out. I expect Bitcoin will fall into a two-legged pullback to around $40,000-$45,000, which should take the alt market down with it either keeping it in a trading range, or bringing it to lower lows. Until Bitcoins sentiment shows a clear bull signal after a likely pullback, it's one more indicator we should allow to play out before getting long in FTM. A final point of data is the RSI low and below the moving average around 39.00 which it could remain in this area for some time. This indicates we should be looking for long entries, but should wait for the price action to guide us. 💡 Trade Idea 💡 Long Entry: $0.45 🟥 Stop Loss: $0.285 ✅ Take Profit #1: $0.64 ✅ Take Profit #2: $0.82 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three legs up into a resistance zone after a breakout 2. Micro Double-top reversal pattern 3. Three-legged pullback to Push #1 Support 4. Wait for double-bottom followed by strong signal and confirmation candles 5. RSI at 39.00 and below the moving average. Supports waiting for a long entry. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worrying about losing money, which helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology

Hello everyone, I am back! I spent the last couple of months finishing the trading course, which is now live. With that project complete, I am back to the analysis! My Bitcoin Weekly analysis has not dramatically changed since March 25th. Bitcoin is now staring at the $65,000 to $74,000 resistance zone. A double top has formed after three pushes up, and we have closed below the Weekly 30EMA. How do we trade this? 🤔 We ought to be looking for a long entry since Bitcoin is bullish on this timeframe. We now have three completed pushes toward the upside ending with a double-top in the resistance zone, we need to at least wait for a two-legged pullback toward the Support Zone between $40,000 and $45,000. Once successful signal and confirmation candles close above the Weekly 200EMA, it's reasonable to enter a long position at a 1:2 Risk/Reward ratio. Stop loss should be set below the Weekly 200EMA at $32,350, the first take profit at 1:1 Risk/Reward at $51,600 where the stop loss is moved to your entry price, then the final take profit at $61,300 before the Resistance Zone at $65,000. 💡 Trade Idea 💡 Long Entry: $42,000 🟥 Stop Loss: $32,350 ✅ Take Profit #1: $51,600 ✅ Take Profit #2: $61,300 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three pushes up into the Resistance Zone at $65,000 - $74,000 2. Double-top reversal pattern completed inside Resistance Zone 3. Weekly close below the 30EMA, more confirmation of a pullback 4. Wait for a two-legged pullback toward the 200EMA in the Support Zone between $40,000 and $45,000 5. RSI is near 49.00 and below the Moving Average. Wait for contact and a final drop toward 40.00 in concurrence with the price action to enter. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology

AVAX landed just north of our final take profit target of $30 from my last analysis, a perfect drop and profit after three pushes up in a bull trend. Avalanche has been sideways since, are we ready to go back up? How do we trade this? 🤔 We had three pushes up in a bull trend; the third push made contact with a major 2021 resistance area, followed by two strong bear candles closing on their lows below the Daily 30EMA. We tested the 30EMA as resistance followed by a strong bear bar closing on or near its low on April 9th. That was our confirmation to enter the short down to $27, we took profits just north of $30 where the run ended. This completed a two-legged pullback, which is a signal that the price may want to re-test $50 and beyond. We've had several attempts to break that low since and found ourselves in a nice trading range. The longer a trading range continues, the greater the chance the price will reverse direction from the price action to the left of the range. With Bitcoin in a nice pullback and seeming to want another run for $74,000, AVAX is likely to follow toward the upside. Wait for a strong bull candle to close on or near its high at this level, then enter a 1:2 Risk/Reward trade, taking half profits at 1:1 R/R ($42.000). Move the stop loss up to the entry price and swing the latter half of the position to $49.00, just before the left resistance area. 💡 Trade Idea 💡 Long Entry: $35.00 🟥 Stop Loss: $28.00 ✅ Take Profit #1: $42.00 ✅ Take Profit #2: $49.00 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Three pushes up into a bull trend. 2. Price has made contact with a 2021 resistance area. 3. Strong sell signal pushing below the Daily 30EMA 4. Two-legged pullback from bull run, price has run sideways for an extended time, look for long entry. 5. RSI at 40.00 and on the Moving Average, supports long bias. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade, or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worry of losing money. This helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading PsychologyComment: AVAX closed a perfect strong bull candle on it's high just below the Daily 30EMA just after this analysis was posted. That validated our premises and was the signal enter a long trade. The price is just below $37.00 now and if today's bull candle closes on its high, expect more upside to our first take profit target of $42.00, where we lock in profits by moving our stop loss up to our entry price of $35.00.Comment: The bull candle closed above the Daily 30EMA! Not quite as strong as one could hope for, a bit larger and closing closer to the high would have been preferred. None the less, the follow-on candle is pending and will close later today. We need to see another new high, above $38. $40 is the next resistance and if that breaks, our $42 Take Profit #1 will be hit and profits locked into the trade.

ADA completed its 2-legged pullback per my previous analysis and even overshot the key support zone to Push #1 support at $0.41. Is this an opportune time to long? Previous Analysis: How do we trade this? 🤔 Cardano found support at Push #1 support from the previous bull trend around $0.40 and has rebounded to the Daily 200EMA. It's reasonable to expect a pullback from the 200EMA to the $0.45-$0.47 area in the Support Zone. We need a strong bull candle closing on or near its high followed by a confirmation candle to support the idea of longing ADA. Even with such price action, we should be cautious given Bitcoins likely pullback from its recent all-time high and halving period. That being said, it's reasonable to think Cardano will have more upside before it comes down and with the signal and confirmation bar off of the Support Zone, it's reasonable to enter a long position toward the $0.65 range. Take half profits at 1:1 Risk/Reward at $0.5635, move the stop loss up to the entry price, then swing the latter half of the position to Take Profit #2 target of $0.65. The likelihood of hitting $0.65 is less than ideal, but it's worth holding that second take profit target until the price action gives us a reason to exit the trade. This analysis is in alignment with my recent ADA Lifetime Analysis as seen here: 💡 Trade Idea 💡 Long Entry: $0.4767 🟥 Stop Loss: $0.3900 ✅ Take Profit #1: $0.5635 ✅ Take Profit #2: $0.6500 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. 2-Legged pullback completed at Support Zone. 2. Double Bottom pattern at Support Zone 3. Strong bull candle to Daily 200EMA, expect a pullback to the Support Zone. 4. Look for a strong signal candle closing on or near its high with a confirmation candle following. 5. RSI is at 41.00 and above the Moving Average, supporting the idea of a long position. 💰 Trading Tip 💰 It's reasonable to take half profits at the first resistance target in a long trade or the first support target in a short trade. Using a 1:1 Risk/Reward Ratio for your first target, you can move your stop loss up to your entry price, locking in profits. This allows you to watch the rest of the trade execute without worrying about losing money, which helps improve trading psychology and the equity in your account. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading PsychologyComment: ADA has remained in the Support Zone despite the crypto markets persistence to remain bullish. ADA is at risk of falling to the next support level around $0.38 if Bitcoin decides to fall from its $64,000 price area. For now, I would not consider a long position on ADA until we get a strong bull candle closing on or near its high above the Daily 30EMA and 200EMA ribbons. A new ADA analysis will be coming soon!

Gold had a strong breakout above $2,075 on March 24th, 2024, leading to a measured move target of roughly $2,400. Gold overshot to $2,430 and ended last week with a strong sell signal at the target. Should we short here? How do we trade this? 🤔 This is an optimal time to short on the lower timeframes given we see a confirmation candle on the hourly chart. I would remain bullish on Gold given the macro trend on the higher timeframes like the Daily and Weekly. After three pushes up post-breakout, hitting the measured move target, and the Daily RSI being overbought for about 6 weeks, we should wait for the price to pullback from the breakout, likely a standard 50% pullback toward the price of the first push up; $2,200.00. Look for a buy signal candle and confirmation off of this area to enter a 1:2 long trade targeting a take profit around the measured move high of $2,350. Taking half profits at this target is reasonable then swing the latter half of the position until we see a sell signal. After the completion of that measured move target, I would be cautious that the price wants to go any higher before hanging around in this area of price via trading range. 💡 Trade Idea 💡 Long Entry: $2,225.00 🟥 Stop Loss: $2,162.50 ✅ Take Profit: $2,350.00 ⚖️ Risk/Reward Ratio: 1:2 🔑 Key Takeaways 🔑 1. Breakout of long-standing $2,075 resistance 2. Three pushes up to complete the measured move target 3. Strong sell signal after hitting that target, look for 50% pullback to Push #1 Support area 4. Look for a strong buy signal and confirmation bar, targeting a 1:2 Risk/Reward ratio trade 5. RSI at 72.00 and below the Moving Average. Has been overbought for 6 weeks on the Daily timeframe, supports pullback. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology

ICP has printed three pushes up in a bull channel, reaching $20.90. It is currently holding its position above the Daily 30EMA. Is it time to short? How do we trade this? 🤔 We do not yet have a short signal near a key resistance zone. Three pushes up after the breakout into the bull trend is a sign to start looking for reversals, but we have yet to see a reversal pattern or signal candle on the Daily or Weekly timeframes. Bitcoin may have one more push up before it reverses, the alt coin market will likely follow that pattern. and that includes ICP. The next resistance area for ICP is around $23.00, which is at the top of the bull channel and near the resistance zone. If we get a sell signal bar and preferably, a confirmation bar closing on or near its low, a 1:1 short scalp is reasonable. 💡 Trade Idea 💡 Short Entry: $21.70 🟥 Stop Loss: $28.00 ✅ Take Profit: $15.40 ⚖️ Risk/Reward Ratio: 1:1 🔑 Key Takeaways 🔑 1. Three pushes up into a bull channel after a of the current support zone. 2. Price action is above the Daily 30EMA and in a trading range. 3. 27% gap to the top of the bull channel which is near the resistance zone. 4. Target the resistance zone for a sell signal bar around $21.00 5. RSI at 63.00 and below the Moving Average, supports short bias. 💰 Trading Tip 💰 The longer a trend continues after 3 legs, the probability of that trend continuing lessens. Because of this decreased probability, we ought to reduce our risk when entering trades and start looking for reversals. ⚠️ Risk Warning! ⚠️ Past performance is not necessarily indicative of future results. You are solely responsible for your trades. Trade at your own risk! Like 👍 and Follow to learn more about: 1. Reading Price Action 2. Chart Analysis 3. Trade Management 4. Trading Psychology