Bulls may be gearing up for a second attack vector

12 juin 2021

I've changed my mind. I don't think we are ready to fall to sub-30k levels yet or even 33k for that matter.

The bulls couldn't break through 38.5k and create a higher high, but it certainly wasn't for a lack of trying. I mean look at that volume and the steepness of that trajectory on the last upward impulse. There is no reason they can't regroup a bit lower after failing the first time and go at it again.

There is already ltf evidence that the bulls are carving out a bottom or trying to. I am getting ready to pull out of my short trade depending on how this 4-hr candle closes. If it looks like I can let this trade run a bit longer I will do so, however this is no longer the sweet entry on what I wanted to be a longer-term swing trade, but now is merely just a scalp. I've made good profits today and I don't want to lose them all back if the bulls start to pick up speed again. Trade safe out there guys.

12 juin 2021

Note

Whew! The 4-hour closed decently enough to denote more downside to come. I will hold my short a bit longer and watch the profits grow. But I am extra wary now that price will make another hard reversal at some point. Will redraw the abc impulse once we get a proper b pivot point.

12 juin 2021

Trade fermée manuellement

I've decided to close my trade after all. I'm not a fan of the low time-frame action developing and I need to get some sleep.

This was an amazingly profitable short trade with high leverage from 37.3k and there's no need to get greedy. Tomorrow is a new day and we can always find a new trade :)