Looking for just a quick scalp, i put a sl for all my lovely fans that will ask where a good spot for sl would be.
Im kinda running without stops cuz ive been short for a while (pre-china dump)
if TL holds and price closes below major priceline then we should see much much much lower levels
Comments
timwest
⋅
I see some very constructive action going on in the past 7 bars. The current bar is a range-expansion bar to the upside and so was the bar after the bar with the lowest-high (the inside bar at the bottom). I'll be watching closely, but it looks like this has made a turn and there is a very tight stop on longs from this point. Either way, nice trade since you have been short for awhile and have done very well.
2Greedy
⋅
I agree, the white line indicates a major price point so I also expect a bounce from here, but I have noticed that if price reverts to more than 90% of a long rally wick (like the one during china crash) it will usually push just a bit lower than the end of the wick in order to trap late shorters. We know many take profit and long orders were sitting at the end of the wick but orders there are now stale. I plan on closing my positions when i see a convincing higher low or definitely if i see a higher high.
Thanks for you input tho :)
2Greedy
⋅
Short still open...new short added...
2Greedy
⋅
also, remember that even tho im giving stops i am running without any hard stops (i have a trailing stop of 400 pips) so trade at your own discretion