Bitcoin Short
Updated
As long as the risk to reward is well defined looks like a decent trade
It looks like we might be in a flat correction
If you have money to spare from trading the oversold bounces I'm thinking now is a good time to risk a short with some profit.
It would be best to enter on a divergence in the MACD/RSI or a strong bounce off of the 4400 resistance level. I'm keeping my stops tight because I don't want a bitcoin bull kicking my ass -_-
The count looks a lot better on my screen and less cluttered :)
Happy trading.
It looks like we might be in a flat correction
If you have money to spare from trading the oversold bounces I'm thinking now is a good time to risk a short with some profit.
It would be best to enter on a divergence in the MACD/RSI or a strong bounce off of the 4400 resistance level. I'm keeping my stops tight because I don't want a bitcoin bull kicking my ass -_-
The count looks a lot better on my screen and less cluttered :)
Happy trading.
Note
Entered the short from 4150 tightening stops, looks like a wave 3 is starting? To continue the trade we need to drop strongly bellow the depth of (4). Otherwise It might be wise to close the trade since this could be a wave 1 of a larger movement up.Note
Stopped out now looking for a re-entry at my initial targetTrade closed: stop reached
Trade active
Initial tade was closed new trade openedTrade closed: stop reached
Note
The thing with having tight stops -_- the touch of sucking ass
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