TRX
Updated
Previous TRX short was stopped out with minimal loss. SL had moved down after position was in profit, so total loss was 5% of trading/mex account or 0.003% of total account.
The pump on Bitmex was a high probability scenario as mentioned before. I am going to assume the main manipulation is over and have reentered on the current pump. Position size is smaller for now. Considering this a high risk trade as Large players are obviously throwing their weight around with TRX at the moment.
SL (grey)
Entry (green ) filled
Additional short orders (red)
TPs (orange)
Difference between spot and futures PA is glaring
The pump on Bitmex was a high probability scenario as mentioned before. I am going to assume the main manipulation is over and have reentered on the current pump. Position size is smaller for now. Considering this a high risk trade as Large players are obviously throwing their weight around with TRX at the moment.
SL (grey)
Entry (green ) filled
Additional short orders (red)
TPs (orange)
Difference between spot and futures PA is glaring
Note
Trade going well so far. First two TPs hit and SL updated to B/E for remaining position. Unless I see a change in market structure, I will reload shorts on bounce up to first TP area. Have a large bid just below the range support, now resistance from before the breakdown. Note
Closed remainder of position. Waiting for a breakdown to short again, or a bounce up to the 670 region. Averaged 12% profit on the trade.Note
TRX did eventually hit all my TP levels, but as stated above I closed out this position early, and was satisfied with the profit from it. The TRX futures contract I was trading closed out March 29th with a low of 558 Sats, before the new lows. I am now watching it for a prime buying opportunity on the daily-weekly charts.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.