Short Trades I Took $KNCHi, everyone!
Sharing with you the Short Trades I took last week and one buy setup.
In this chart, we are the 4H or 4 Hour Timeframe.
I was expecting a potential double top and I placed a short limit order at the previous highest wick.
During that time $BTC and $TOTAL were volatile and are dumping.
$KNC in a lower timeframe is not bearish that is why I took profit when it reached EMA20 (green) I took profit.
I believe that there will be another test of the highs of the wick but recognized that it's trying to break the resistance.
What I did is adjust my second entry again I recognize on the daily is the wick of the previous candlestick which could act as a resistance
I entered at 1.68
And took profit at 1.48
Sharing in the comment section the updates of my other short entries.
Indicators I use:
EMA 20, 50, 100
ATR
RSI
Stoch
The approach I usually do: Swing, Supply, and Demand.
Thank you for reading.
Please read also the updates so you can see my other entries for $KNC
Ciao!
