LONG & SHORT at the same time.
Updated
While my overall bias is BEARISH and I'll remain in my SHORT position which is still a large position; I noticed a potential inverse H&S formation on the hourly with a break and rest of the neck line. So I have opened a LONG on a separate exchange. Opened long at $203 and anticipating an intraday close of position. Looking to for initial TP around $212-213. Anticipate a drop after this and will move SL to break even, allowing to take some nice profit home. However, if we continue up my SHORT position will be closed on bitmex and looking for my next TPs at $221 and $228. SL set at $196.
Trade closed: stop reached
As mentioned in my previous posts, when I'm wrong I'll admit it. In this case I was wrong. Was anticipating a stronger bounce and take home some profits from a quick scalp but got stopped out. No sweat. Short still open on bitmex.
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