Short-term BTCUSD movement
Atualizado
My current idea for BTC stays on the bearish side for the short-term.
In the last couple of days, I have successfully traded the market up to one point, then lost a significant percentage of the gains I've made in the previous week or so. My initial idea was that the consolidation should end until the end of this week (tomorrow. 14.07.2019), breaking for the next up-trend. However, in the current market, I don't see this happening at least by the end of the week. I am now going to short BTC, with caution around 10.5K USD. Considering the previous lows, I see us going down below $10,000 USD for just a bit, enough for me to buy BTC back. Additionally there is a possibility for the price to go even lower, however, this would break the current uptrend, so I am not sure that we would see significant price drops after just below 10K.
This is not a financial advice, but my personal opinion, which I share in order to mostly receive feedback from more experienced traders and analysts than myself.
In the last couple of days, I have successfully traded the market up to one point, then lost a significant percentage of the gains I've made in the previous week or so. My initial idea was that the consolidation should end until the end of this week (tomorrow. 14.07.2019), breaking for the next up-trend. However, in the current market, I don't see this happening at least by the end of the week. I am now going to short BTC, with caution around 10.5K USD. Considering the previous lows, I see us going down below $10,000 USD for just a bit, enough for me to buy BTC back. Additionally there is a possibility for the price to go even lower, however, this would break the current uptrend, so I am not sure that we would see significant price drops after just below 10K.
This is not a financial advice, but my personal opinion, which I share in order to mostly receive feedback from more experienced traders and analysts than myself.
Trade ativo
Opened a short position at $11,000 USD due to the above mentioned.Trade fechado: objetivo atingido
Closed my position a little below 10,000 USD. Currenly waiting for validation for placing a long position within couple of days(by Wed-Fri this week).Nota
I wish to continue with providing information about my decisions. This is why I have decided to also say that my current psychology of trading made me take a decision which was too early, however it was not based on emotion, or doubt. I have decided to change my position today with a LONG for the same amount and the profits I have previously made on the trade. This Long with leverage of x10 has led to a liquidated position, due to not proper risk management. I consider this to be a big mistake, thus, I am striving to improve my skills in this area. My "trading experience" is since approximately 6-7 months, but only the last two-to-three months I consider it to be part of my weekly routine. If anyone in this community can provide me with quality sources for risk management in such a scenario, similar to what we see currently, I would greatly appreciate it.
Aviso legal
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