Be aware of shorting and up trend with strong direction to the up side
tt2012tt
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I'm a newbie at this and messed up my trade by not putting a stop loss on, I sold axs at $154, and bought back in at 152.5. I thought it was going to keep trending up... I currently have the auto sell set for 164.9. Should I keep it there or set it back to like 153, so I can at least hope to get my money back... Any suggestions?
googlebuybtc
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@tt2012tt, From the 1h chart we can see that AXS has created several higher low, which means it got support at around $120, that is the previous top.I think you can just hold unless the price break down $120.
googlebuybtc
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@tt2012tt, The price may break down $120 and then back to $120, if the price get rejected at $120, that is definetly a bearish trend.
szkrawcz
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At the moment distribution started. You are correct, good time for short . In long - we will see how support levels will survive. Good to by low amount with stop loss enabled.
ransuuuuuuuuuuu
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what is the target price when it starts to go upward?
googlebuybtc
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@ransuuuuuuuuuuu, Generally previous top will be the support.Now it's not a good entry point to short.Not financial advice.