Research
Trade Setup 28 Nov 23
Delta Exchange
November 28, 2023
Bearish View on ETHUSDT Welcome to Daily Trade Setups. Trade:
- Sell ETH Perpetual future at $2050
Stop Loss: $2065 Target: $1965 Payoff: Max Profit: $60/ETH Max Loss : $40/ETH
Rationale: The latest price action in ETH indicates a potential pause in the rally, with some retracements observed. Additionally, a newly formed supply zone/resistance has been identified on the charts. Currently, the price is making an effort to retrace towards the supply zone at 2050. We can use 2065 as stop loss of for invalidation of above 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.