Hello Everyone,
Straigth to the business,
Right now, we in High Uncertainty market conditions,
related to Macro economy optics for Future..
with Several Big events in upcoming day which could provide
more Clarity into where market would like to move
BUT as Right Now..
Price is Lower then it was when Peaked mid March..
In that Time, we was Held in few Week consolidation, before we seen expansion.
Matter of Fact, it Holds Under that Purple line
which can be seen as Bottom of Sidewas range from March.
Because of that and above, I would favourite opening Short in this moment,
and expecting that next Expansion will be on Downside,
with sound Stop Loss above 25-35% of March sideways range.
( around 28k$ - depending on your own Risk Managment)
Having in Mind, that if Price is Able to Break above and Close there for
at least Few Days, it May be very possible to see Highier Price range upcoming Month(s) .
Joe
Straigth to the business,
Right now, we in High Uncertainty market conditions,
related to Macro economy optics for Future..
with Several Big events in upcoming day which could provide
more Clarity into where market would like to move
BUT as Right Now..
Price is Lower then it was when Peaked mid March..
In that Time, we was Held in few Week consolidation, before we seen expansion.
Matter of Fact, it Holds Under that Purple line
which can be seen as Bottom of Sidewas range from March.
Because of that and above, I would favourite opening Short in this moment,
and expecting that next Expansion will be on Downside,
with sound Stop Loss above 25-35% of March sideways range.
( around 28k$ - depending on your own Risk Managment)
Having in Mind, that if Price is Able to Break above and Close there for
at least Few Days, it May be very possible to see Highier Price range upcoming Month(s) .
Joe
Note
26/5 3:55 UTC-4Hello everyone,
little quick update on idea.
Since posting, market droped at peak 5% (currently around 2,6% from Short Opening Price)
I would suggest profit taking, if it wasnt already done,
since Market showing potentional sign of short term change of trend,
which could took us around TOP range of that March Sideways range.
In that case our good trade would be unprofitable / in loss and thats not why we in business of trading.
With that said, Price should be Closly monitored since IF we are about to reach that March sideways Top Range, that would be another great opportunity to Open another Short position with sound money managment and reasonable stop loss at that time.
Joe
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.