I see evidence of distribution going on at current price levels
Transaction en cours
Commentaire:
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.
Commentaire:
TP1 7745
TP2 7200
TP3 6700
TP4 6050
TP2 7200
TP3 6700
TP4 6050
Commentaire:
Potential bounce zones to scalp
Potential bounce zones to scalp
Commentaire:
Reminds me of my last trade. Buyer volume picking up already and divergence on lower timeframes. Took 20% profits at 7820
Commentaire:
Commentaire:
Stoploss to breakeven now, as we have just hit the neckline of the inverse H&S, an area bulls will want to defend
Commentaire:
Sell volume still increasing. Taking another 30% profit at the 7200 support
Commentaire:
Took 30% profit at 7600 as this is a bounce zone
Commentaire:
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
Commentaire:
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
Commentaire:
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
Commentaire:
Moved stoploss on the short from 7800 to breakeven.
Commentaire:
Moved stop loss on the inital short to 7900 (in profit)
Commentaire:
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.
Commentaire:
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
Commentaire:
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.
Transaction en cours:
Reopen this trade if the price hits 8225 (bitfinex), stoploss at 9006, target is the same.
Trade fermée manuellement:
Hidden bull on the 15 minute chart. This could get quite choppy however upside for bulls is limited. Keep stoploss at 9006
Commentaire:
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