$BTC & $ETH Long Positions Update and here are few tips:
1. “Why haven’t we closed the ETH position yet while is reach stop level?”
Because I believe this move was a manipulation for "bear trap" that followed the 9:30 opening.
Here’s why:
Price had shown a clean accumulation until 9:30.
Right at market open, there was a sudden drop that grabbed liquidity near the 4H FVG, and then price sharply recovered.
Despite the move, ETH still closed above the body of Wave 2 — which keeps the Elliott wave count valid.
On both the 1H and 4H charts, Wave 4 is still holding in the expected region.
I believe this was a second round of manipulation designed to shake out weak hands.
(You can also see this more clearly in the chart below.)
Additionally, confirmation comes from BTC and TOTAL charts — all re-entered the Monday Range after a deviation below the Monday Low, which I often use to gauge direction.
2. “Why didn’t we close BTC?”
As I mentioned above, BTC typically experiences a Monday deviation, and then returns to the range.
Second, it’s now trying to reclaim a key 4H S/R level, and on the 1H chart, we can see slow but consistent progress.
(Refer to the chart below for details.)
3. “Why we’ve taken a bigger loss than planned?”
Sometimes, these decisions have to be made.
You may apply proper risk management, for these kinds of moves and don’t get pointless losses.
I’m okay with extending my stop slightly and increasing both risk to 2R, because I know my risk management can handle it.
If you've been following the risk management I’ve explained in previous posts, you can do it too.
4. “You're about to hit stop and still holding. Why emotional?”
This isn’t emotional it’s risk management.
Like I said in point 3, even if I get stopped out, it’s a loss of 2–4R, which my strategy is built to absorb.
These are amounts I can recover from and you should aim to be in the same position.
I’ll only close positions if I post an official update here. Until then, you can check the charts below and inspect them for yourself.
