10X ETH QUICK TAP TRADE ON BITMEX
Updated
ETHERUEM has been extended in the move, This will be a quick TAP trade back up to the targets I have marked.
ENTRY IS 175-185 10X BITMEX
STOP IS 169
TARGET 1 : 200
TARGET 2 : 220
overall direction is still bearish so dont be afraid to lock in 50% profits at TARGET 1 and take 25% at TARGET 2 and let the last 25% run and IF ETH reaches 240 which isnt a high probability target at the moment, then look to take profit at 240 but IF it passes 240 let it run and if price action falls back to 240 take the last 25% profit.
same with TARGET 2 , if we pass target 2, let it run ...If price action stalls and starts to fall back on TARGET 2. take the 25% off.
THIS ISNT FINANCIAL ADVICE, JUST ME JOURNALING MY TRADES .
ENTRY IS 175-185 10X BITMEX
STOP IS 169
TARGET 1 : 200
TARGET 2 : 220
overall direction is still bearish so dont be afraid to lock in 50% profits at TARGET 1 and take 25% at TARGET 2 and let the last 25% run and IF ETH reaches 240 which isnt a high probability target at the moment, then look to take profit at 240 but IF it passes 240 let it run and if price action falls back to 240 take the last 25% profit.
same with TARGET 2 , if we pass target 2, let it run ...If price action stalls and starts to fall back on TARGET 2. take the 25% off.
THIS ISNT FINANCIAL ADVICE, JUST ME JOURNALING MY TRADES .
Trade active
Im adding to this position between 175 and 165 . Same size postion or half position of your first. Low SELLSIDE volume as we push through the lows is negative for the downside momentum.Note
****NOTE** THE BTC SHORTS CHART HAS NOTHING TO DO WITH THIS TRADE-FORGOT TO TAKE IT OFF.Note
VERY POSITIVE DEVELOPMENT on this trade. Building into these trades is all about timing and I think I might have been a day early, BUT just a few hours ago HUGE SHORT positions were made in a short amount of time over at BITFINEX. The rate of change when entering and exiting a market is what I always look for. This is pretty significant as the market pushes lower. The same reason I short the BTC move from 73xx was because shorts piled in with a fast rate of change BEFORE the turn...soooI will add to this one ALL THE WAY TO 155 with 2 more positions. Ive got 2 positions in already.
Note
^^^^^^^^^^^**** HUGE LONG POSITIONS WERE MADE NOT SHORT POSITIONS**** sorry
Trade active
Adding to position and increasing leverage to 20X at this demand zone (RED).
will add down to 180 if ETH heads that way.
Trade closed: target reached
TARGET ONE REACHED!UP +221% AND TOOK 1/4 OF POSITION OFF AT 200
LOOKING FOR TARGET 2
WATCH THOSE LEVELS FOR TOPSIDE RESISTANCE.
Trade closed: target reached
TARGET 2 REACHEDI NOW ONLY HAVE 25% OF MY TOTAL POSITION LEFT IN THIS TRADE AS IT HAS BECOME EXTENDED IN STRUCTURE AND BEARISH STRUCTURE IS STARTING TO BUILD .
I WILL LET THIS RUN AS WE MAY SEE 240-250 BUT THE PROBABILITY IS NOT HIGH ON THAT MOVE.
IM STILL WATCHING FOR THE BIGGER BITDINEX LONG POSITION TO UNWIND. THIS WILL BE OUR LEADING INDICATOR.
Trade active
STILL ACTIVE IN THIS TRADE.
HIGHER TARGETS BEING REACHED ON LOW VOLUME
THERE ARE MORE ETH LEV. LONGS COMING INTO THIS TRADE AS LATE ACTION SO THIS IS EXACTLY WHAT THE HEAVY MONEY NEEDS TO GET OUT OF THEIR LONG POSITIONS I WROTE ABOUT ABOVE.
I AM ABOUT TO START HEDGING MY POSITION AND START BUILDING MY SHORT FOR THE TURN.
WILL PUT OUT A NEW TRADE SET UP WITH THAT.
STAY ALERT AND WATCH WHAT THE MARKET GIVES YOU.
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