overall direction is still bearish so dont be afraid to lock in 50% profits at TARGET 1 and take 25% at TARGET 2 and let the last 25% run and IF ETH reaches 240 which isnt a high probability target at the moment, then look to take profit at 240 but IF it passes 240 let it run and if price action falls back to 240 take the last 25% profit.
same with TARGET 2 , if we pass target 2, let it run ...If price action stalls and starts to fall back on TARGET 2. take the 25% off.
THIS ISNT FINANCIAL ADVICE, JUST ME JOURNALING MY TRADES .
Transaction en cours
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Im adding to this position between 175 and 165 . Same size postion or half position of your first. Low SELLSIDE volume as we push through the lows is negative for the downside momentum.
Commentaire
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****NOTE** THE BTC SHORTS CHART HAS NOTHING TO DO WITH THIS TRADE-FORGOT TO TAKE IT OFF.
Commentaire
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VERY POSITIVE DEVELOPMENT on this trade. Building into these trades is all about timing and I think I might have been a day early, BUT just a few hours ago HUGE SHORT positions were made in a short amount of time over at BITFINEX. The rate of change when entering and exiting a market is what I always look for. This is pretty significant as the market pushes lower. The same reason I short the BTC move from 73xx was because shorts piled in with a fast rate of change BEFORE the turn...soooI will add to this one ALL THE WAY TO 155 with 2 more positions. Ive got 2 positions in already.
Commentaire
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^^^^^^^^^^^ **** HUGE LONG POSITIONS WERE MADE NOT SHORT POSITIONS**** sorry
Transaction en cours
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Adding to position and increasing leverage to 20X at this demand zone (RED).
will add down to 180 if ETH heads that way.
Trade fermée: cible de profit atteinte
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TARGET ONE REACHED! UP +221% AND TOOK 1/4 OF POSITION OFF AT 200
LOOKING FOR TARGET 2 WATCH THOSE LEVELS FOR TOPSIDE RESISTANCE.
Trade fermée: cible de profit atteinte
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TARGET 2 REACHED
I NOW ONLY HAVE 25% OF MY TOTAL POSITION LEFT IN THIS TRADE AS IT HAS BECOME EXTENDED IN STRUCTURE AND BEARISH STRUCTURE IS STARTING TO BUILD .
I WILL LET THIS RUN AS WE MAY SEE 240-250 BUT THE PROBABILITY IS NOT HIGH ON THAT MOVE. IM STILL WATCHING FOR THE BIGGER BITDINEX LONG POSITION TO UNWIND. THIS WILL BE OUR LEADING INDICATOR.
Transaction en cours
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STILL ACTIVE IN THIS TRADE.
HIGHER TARGETS BEING REACHED ON LOW VOLUME THERE ARE MORE ETH LEV. LONGS COMING INTO THIS TRADE AS LATE ACTION SO THIS IS EXACTLY WHAT THE HEAVY MONEY NEEDS TO GET OUT OF THEIR LONG POSITIONS I WROTE ABOUT ABOVE.
I AM ABOUT TO START HEDGING MY POSITION AND START BUILDING MY SHORT FOR THE TURN.
Thanks a bunch for this trade!
Love how you've laid it all out but extremely loving the +438% even more! :)
CAMBRISTCAPITAL
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@nutakank, AWESOME!! VERY GLAD TO HEAR THAT! NICE WORK!
HardFork_Cafe
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What do you think? The B of the ABC in the making at the moment and then a fallback to the .768 and continues movement up or a further downtrend?
CAMBRISTCAPITAL
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@HardFork_Cafe, They way I see it, the .786 is too far down and would break positive structure. we need to stay above 195 on any retracement. Im still watching for the heavymoney longs to unwind their position and that hasnt happened yet.. The first level I was watching was 200-205 and they respected that level which is positive but a retest of 220 on high volume with no break isnt a good sign as they have rejected from it now, But i still have 25% of my position in this trade. was going to add at 205 but its a little extended for me.
HardFork_Cafe
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@AmCRYPTOLIVE, thanks!
Ikendricktrading
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It's just smashed through market structure ...Why is it gonna bounce ?
CAMBRISTCAPITAL
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@Ikendricktrading, Its all in the charts Sir...alot of extended structure was building.
Ikendricktrading
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@AmCRYPTOLIVE
OK Well done mate ... really good call BUT 2 things... Ya first trade got liquidated... so a bit early (as you said) ...and secondly I honestly had no problem with your call...I'm trying to learn this stuff and couldn't see WHY it would bounce or WHERE.. I did a bit of research and found it bounced off the bottom trend line... I'm not an agro type just really interested in this stuff and trying to figure it out.
Wiil continue to watch your trading view stuff. What's your opinion on the weekly falling wedge pattern, looks like it's gotta break out in the next 3-4 weeks ?
cheers
Ian
Ikendricktrading
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@Ikendricktrading, I was referring to BTC on the falling wedge pattern.
Love how you've laid it all out but extremely loving the +438% even more! :)