CMSTrading

ATOM short breakout

Short
BINANCE:ATOMUSDT   Cosmos / TetherUS
Total market:
- still bearish . not the best entry spot as index as found support, but price continues to bleed down.
Daily:
- breaking under s/r level , bears in control of momentum, daily rejection wick higher
4H:
- next 4h candle close expected to be a BB break through support floor
1h: (entry)
- strong bearish candle close w/ bb break thru support - that was my entry signal

Trade management:
- expecting to hold this thru to take profit unless there is a solid spot to take some profits on the way down. Will be basing it on discretion
Stop loss: 26.75
- above both support/resistance areas that have just been broken by bearish breakout candle, and above VPVR high volitility area
Take profit: 20.99
- at daily support level giving me a 2.5R
Trade closed manually: Closed with loss, bulls defending 4H support zone, total market price action reversing to upside. Doesnt look like we will get a hold of broken support on upcoming 4H close

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