Stinky Linky is a great example...
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.... of the entire market in a bearish rising wedge/ ending diagonal
The January growth of BTC has been aggressive and beginning to look unsustainable. We must be cautious of short squeezes happening especially in key moments of the year. We have just experienced a shorts funded rally right before major earnings and an fomc meeting where the fed is likely to surprise markets with a 50 bpts hike that is not priced in. Volatility (vix) is in a declining ending pattern and 10 year yield ands dxy (dollar) in bullish ending diagonals/ descending wedges. It is highly likely due to the debt ceiling issue that we see volatility present itself to the markets.
Scalping long here for a 12% move and then compound 20% short move back to breakout structure.
Will use 50% of total profits to long from there for a zero risk trade, but I do expect the markets to capitulate so be very cautious of longing.
Many indicators flashing that bitcoin may have bottomed, if so, the next crash could end at $17800. Failing that, we would likely see 14k
Link:
3.34k initial x3x leverage = $10000
$10000 x 1.12 = $11200
$11200+- x 1.2 = $13500
Total profit = 3500
TP 50% of position (keeping 50% in the short)
Hedge Long £3500/2 = $1750.
Ride the winner.
The January growth of BTC has been aggressive and beginning to look unsustainable. We must be cautious of short squeezes happening especially in key moments of the year. We have just experienced a shorts funded rally right before major earnings and an fomc meeting where the fed is likely to surprise markets with a 50 bpts hike that is not priced in. Volatility (vix) is in a declining ending pattern and 10 year yield ands dxy (dollar) in bullish ending diagonals/ descending wedges. It is highly likely due to the debt ceiling issue that we see volatility present itself to the markets.
Scalping long here for a 12% move and then compound 20% short move back to breakout structure.
Will use 50% of total profits to long from there for a zero risk trade, but I do expect the markets to capitulate so be very cautious of longing.
Many indicators flashing that bitcoin may have bottomed, if so, the next crash could end at $17800. Failing that, we would likely see 14k
Link:
3.34k initial x3x leverage = $10000
$10000 x 1.12 = $11200
$11200+- x 1.2 = $13500
Total profit = 3500
TP 50% of position (keeping 50% in the short)
Hedge Long £3500/2 = $1750.
Ride the winner.
Note
Link don't be rudeTap that upper trendline
RUDE!
Note
long closed, short openedtight stop loss at 7.57
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