K155MY4R53
Short

Shorting at Resistance Before the Bear Pennant Breaks Down

OKCOIN:BTCCNY   Bitcoin / Chinese Yuan
I don't think nearly enough selling has happened since breaking out of the mid-term channel. Some good support around 343usd (Bitfinex) has led to a pennant forming and I think the bounce will turn out to be a dead cat that wants to fall further. Indicators are winding up for the move as well. Let's wait and see.
In case anyone's interested, that trade with 50 contracts at 20x lvg. should have netted me 0.5594btc (+78.38%). I'm going to see if I can hassle OKCoin to fix this glaring oversight.
Reply

Not being able to set both a limit and a stop on OKCoin futures is starting to really frustrate me. This trade played out perfectly but I was asleep when I could have taken profits and subsequently got stopped out. Only -4% with the tightened stop but it's such a pain missing out on that much delicious BTC.
Reply

I've broken the golden rule and shifted my stop down slightly because although the price broke down as expected, the support has been strong enough to prevent a proper selloff and the price has actually entered the penant again, so I'm less certain as to what's going to happen now. Surprising amount of support at this level, let's see how it pans out.
Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out