Short

Short --- double bottom ahead?

Updated

Many traders looking at this chart will be wondering if there might be a double bottom. The charts tend to do what people think they might do, often in both long and short directions, so on that basis I'd take a short position here.

If the us government opens, the target is met, or a week has elapsed, I'd exit this trade.

Trade closed: stop reached

Seems we had gone done too far, too fast, for it to continue here. Closed at a loss.

Note

down

Trade active

I think my stop was too tight. Trade reentered.

Thoughts: I need to do some computerized backtesting to know where to place stops. Trailing stops would be better. Computerized exits are required for this market now since it is mostly traders against traders (seems few investors now, so it is more a zero sum dog eat dog game).

Note

Current price is $3611.

Note

Trade closed at $3522 (current price on bitfinex) for ?$90 profit? The is too much upside price risk to be worth this trade currently. Cash is king.

Trade active

Trade active again. Price at $3450 @ bitfinex.

Trade closed manually

Exited with profit of $7. We spiked down and reversed on the double bottom price from Feb. 19 on bitfinex. I forgot about that support level. It might mean we float here a while. I will reenter after we get back to that level again after the upside risk is less.

Trade active

in play yet again. bitfinex price stands at $3439 usd.

Note

out at a loss of about $43. current bitfinex price is $3495.4.

valentynestad

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