LINKUSD - For ones who want to protect long positions

* DON'T BE AN IDiOT AND THiNK FOR YOURSELF!
* THiS iS NOT A FiNANCiAL ADVICE!

TRADE:: LINK_02_19012021
STATUS:: Placed

TYPE:: Short
PATTERN:: Consolidation Triangle
SIGNAL:: 4H MFI
FILTER:: 1H OBV Delta + Price action

VOLUME:: $2000
ENTRY:: 20.3085
TP1:: 19.1750
TP2:: 18.325 (Trailing)
SL:: 20.6670
R/R:: 5
RISK:: $40
REWARD:: $200

PROS::
1. Price consolidates above ATH. Probably we will need little bit more time for a significant move up
2. Even if this particural trade will be a loosing trade i will get my gains back from a long trade i am still holding. So it's nice for protectin the capital.
3. 4H MFI is on a verge to break below the trend line, that's a powerfull signal
4. Phoenix indicator showing a bearish sentiment, i covered it in a previous publication

CONS::

1. It will be nice to see a few more confirmations of the support level for a breakout trade like this for more precise entry


OVERALL::
* 4H MFI is on a verge to break below the trend-line
* 4H MFI signal
* 1H OBV Delta is red
* Nice short-term trade this to protect your long position

Commentaire:

The higher low occured and we didn't drop i expected. But we may be still in progress of 10-15% correction. I will update my re-entry on this trade if i see an opportunity