GMXUSDT 30%+ Short opportunity here?I found a possible short opportunity here in one of the largest up-trending tokens in the last 24 hours. You can see by all the previous structure of what I call the EMA (solid red smoothed Heikin Ashi candles) and how the actual price behaves when it break up through the mean. It is short lived (2-4 days) and the average move down is 35.94%.
Keep in mind to have a plan to add to your short if it move higher against you first, so spread a series of smaller short limit orders across 18% above the MA break would be what I am doing. I generally like to fill one short first, and let the price come to my better series of entries. Thus, averaging my entry and this gives me the opportunity to get out if price continues to move up. As I can get out on a retrace at break even or a small profit. Do not attempt this strategy unless you place small orders, don't go higher than 10x leverage and commit to managing the trade for multiple hours to get out unscathed. Something I would do at the start of my trading session, not when I need to get some sleep.
But this strategy works. I am nobody special and currently the #2 lead trader on Bitunix for copy trading at time of writing.
There are two lower highs on the 1H right now! So this is a high probability of profit.
