Picked up a bunch of shorts during the downtrend on smaller charts last night. Trend was nice and strong and allowed me to run the full position with trailing stops.
Trailing stops have just hit recently and they hit in a bounce off a level I know to be a big risk level for lows.
At this point, I am still willing to speculate a bigger bear move is coming but I'd ideally like to see us back up close to the highs.
Looking to pick up longs into a bit of a dip. Stops under last low. If these work out, I'll use the profit from the longs to bankroll a bigger short.
Will short into the common bull trap levels. Trail stops on my longs. If the drop comes and takes out my long stops I'll move short stops to even for a freeroll.
If we rally through the resistances I'll stop out the shorts and pull long stops tighter to cover my shorts loss and freeroll the long.
We could be in for some real drama if a second break comes - but bears have a lot of parabolic risk now.
The time to be cautious is here. If bears fail to break the last low, damn fine chance we see a big strong bull candle. This is to be expected even in the best of short setups.
Trailing stops have just hit recently and they hit in a bounce off a level I know to be a big risk level for lows.
At this point, I am still willing to speculate a bigger bear move is coming but I'd ideally like to see us back up close to the highs.
Looking to pick up longs into a bit of a dip. Stops under last low. If these work out, I'll use the profit from the longs to bankroll a bigger short.
Will short into the common bull trap levels. Trail stops on my longs. If the drop comes and takes out my long stops I'll move short stops to even for a freeroll.
If we rally through the resistances I'll stop out the shorts and pull long stops tighter to cover my shorts loss and freeroll the long.
We could be in for some real drama if a second break comes - but bears have a lot of parabolic risk now.
The time to be cautious is here. If bears fail to break the last low, damn fine chance we see a big strong bull candle. This is to be expected even in the best of short setups.
Comment:
Not too sure if this will fill.
Was looking to see BTC, EURUSD and indices all fill around the same time. Others filled. Indices are slow.
Strong bear bias if only a shallow retracement is made.
Was looking to see BTC, EURUSD and indices all fill around the same time. Others filled. Indices are slow.
Strong bear bias if only a shallow retracement is made.
Comment:
Short 17,987
Stop 18,026
Limits still valid if they fill but they might miss.
Stop 18,026
Limits still valid if they fill but they might miss.
Trade active
Comment:
This could be a C point and if it is we'd be heading a lot lower.
Trade active:
Stops hit.
Back in higher.
Back in higher.
Usually when I do this it goes really well or really badly. I only like longs in a very small area.
If retracements are shallow we could be in a far more aggressive downtrend.
Hopefully not, would pref the rip. Much more profitable all round setup if it rips to the fibs and turns.
But if we break, I'll follow.