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
snapshot

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
snapshot

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
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
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 Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out