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Delta Exchange Blog
Trade Setup 27 Dec 23
Research

Trade Setup 27 Dec 23

Delta Exchange
Delta Exchange
December 27, 2023

Bearish View on ETHUSDT Welcome to Daily Trade Setups. Trade:

  • Sell ETH Perpetual future at $2220

Stop Loss: $2260 Target: $2170 Payoff: Max Profit: $50/ETH Max Loss : $40/ETH

Rationale: The most recent movement in ETH suggests a potential temporary halt in the upward momentum, with noticeable retracements in play. Moreover, a recently established supply zone/resistance has been pinpointed on the charts. At present, the price is in the process of retracing towards the supply zone at 2240. For risk management, we recommend setting a stop loss at 2260 to invalidate the aforementioned setup.

Disclaimer: This report must not be used as a singular basis of any trading decision. Please refer to https://www.delta.exchange/research-disclaimer for analyst disclaimer and other disclosures.

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