Short

XBT Potential Short Scenario

Updated

Hey friends!

We might have a potential short setup forming. Look for a loss of momentum and signs of reveral. The setup is not valid if we make a higher high and upside momentum keeps growing.
Protect your capital, have a plan and stick to it. Cut your losses quickly if things are going south.

All the best,

Note

Watching this closely for possible shorting opportunity!
Currently everything looks good for bulls, but keeping a close eye on it.

Trade active

Looks weak, short entry 4233

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Have mental stoploss, will be observing form here

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Waiting for this daily to NOT close engulfing!

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Setting a very close stoploss of 4244 for this one. Don't want to get caught offguard if an impulse happens. Can always get in again.

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A little update. Trade is going nicely so far. I'm keeping an eye on in and observing momentum.
Currently the declining volume is suggesting consolidation period. We certainly can go sideways for days and build an equilibrium pattern. Nothing is certain and we adjust our perceprions on the go if we get new information.

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Took some profits and set a stoploss below breakeven. Keeping it overnight. Could go either way good to hedge.

Trade closed manually

Trade close at 4080.
Current information suggests sideways action best to take the profits. This trade idea seems invalid for now, no downside momentum! Not taking any trades before market decides direction.

TradingForLols

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