I see evidence of distribution going on at current price levels
Trade ativo
Comentário:
Pennant may fly up for a bull trap at some point however so far so good.
Pennant may fly up for a bull trap at some point however so far so good.
Comentário:
TP1 7745
TP2 7200
TP3 6700
TP4 6050
TP2 7200
TP3 6700
TP4 6050
Comentário:
Potential bounce zones to scalp
Potential bounce zones to scalp
Comentário:
Reminds me of my last trade. Buyer volume picking up already and divergence on lower timeframes. Took 20% profits at 7820
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Comentário:
Stoploss to breakeven now, as we have just hit the neckline of the inverse H&S, an area bulls will want to defend
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Sell volume still increasing. Taking another 30% profit at the 7200 support
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Took 30% profit at 7600 as this is a bounce zone
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Still expecting a lot more downside, however I expect a sharp bounce at the bottom so it is always good to hedge/take profit when reaching a bounce zone, you can always sell back at the top of the bounce
Comentário:
Expecting a bounce to 7800 soon and will reshort using the 30% profit
Expecting a bounce to 7800 soon and will reshort using the 30% profit
Comentário:
Looks like the bounce has hit the 38.2 and completed. Reshorting using the 30% profit I took with stop loss above 7900
Looks like the bounce has hit the 38.2 and completed. Reshorting using the 30% profit I took with stop loss above 7900
Comentário:
Moved stoploss on the short from 7800 to breakeven.
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Moved stop loss on the inital short to 7900 (in profit)
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So if you had moved the stop to 7900 you would've most likely gotten stopped out (in profit). This looks like a market maker shakeout, I am still bearish and will be looking to reshort.
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As stated earlier, the price could've flown up back into the pennant. I will remain bearish and think it is a bull trap however will wait for confirmation. This could've been a corrective elliot wave
As stated earlier, the price could've flown up back into the pennant. I will remain bearish and think it is a bull trap however will wait for confirmation. This could've been a corrective elliot wave
Comentário:
Waiting for the 4h candle to close. A close below 8000 is our signal to sell. Remain cautious and keep an eye out for increasing sell volume.
Trade ativo:
Reopen this trade if the price hits 8225 (bitfinex), stoploss at 9006, target is the same.
Trade fechado manualmente:
Hidden bull on the 15 minute chart. This could get quite choppy however upside for bulls is limited. Keep stoploss at 9006
Comentário:
I sense a bull trap coming. Theory will be invalidated if volume picks up on the break of 8600
I sense a bull trap coming. Theory will be invalidated if volume picks up on the break of 8600
Trade active at $8149