The Trend is My Friend?
Updated
Today I decided to go short as the trend has been downward since yesterday.
Whilst there were signs of reversal then they are starting to slowly fade.
Short opened at 17'950 with a stop at 18'200.01, one tick above today's high… I decided to only open 1/3 of the position and pyramid the rest when the position was profitable.
I'm still holding coins from 14k and am considering buying a call to at least cover this position if #!@$ hits the fan.
I will open a long as soon as there is a higher high (over $18'520), which I'm not seeing so far.
Whilst there were signs of reversal then they are starting to slowly fade.
Short opened at 17'950 with a stop at 18'200.01, one tick above today's high… I decided to only open 1/3 of the position and pyramid the rest when the position was profitable.
I'm still holding coins from 14k and am considering buying a call to at least cover this position if #!@$ hits the fan.
I will open a long as soon as there is a higher high (over $18'520), which I'm not seeing so far.
Trade active
Added to opened position bringing the average entry price to 17'842.75.I didn't move my stop but I'll keep an eye out. I may buy back 50% at 18'125 if it's breached.
Note
Profit target moved down to 17.3k; I may take 50% at 17.6k but I'll likely just move down my stop loss since the risk to reward ratio is now at 1.52Trade closed: stop reached
Stop was hit. Missed the reversal (bullflag, low volume pullback) before the exhaustion move. No other trade planned for today :|
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