Long

Trading on Bitmex is hard...

Updated

I have a long position currently open and am planning on closing it at the first price point on the chart. I'll post updates of my trades as I go, if the chart unfolds as shown.

Trade active

Long position entered at 6441.2 using 100x leverage

Note

I've been incrementally adding to my position and dropping the stop loss to keep it from triggering. If the price drops any more though, I'll have to assume that the pattern won't continue and manually close the trade at a loss.

Note

We're bouncing back... I guess I should have anticipated that possibility in hindsight per the purple trendline... provided we continue to trek up, there are two alternative patterns that could emerge, we hit ceiling at around 6500 then retrace back to 6400 before pushing up to 6800 OR we go straight up to 6800. Either case, I'm keeping the long position open until we hit 6500, then I'll reassess from there.

Trade closed manually

alternative to the alternative...

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As you can see, the price has been following my chart pretty closely. Now would be the perfect time to go long.

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Hi I'm modifying the projection on the chart. We are definitely blowing past 6800/690 to hit 7400. Once we hit 7400, we will either retrace to 7200, not much lower, OR just go sideways for a day or two before resuming the trek back up. So unless you want to risk losing your position, I'd just stick with it until we hit around 10k - the range is going to be something around ~9200 to 10300. It's going to take around 3 weeks to get there so please plan accordingly.

Note

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