The price channels never lie.

I’m a dumb ape, me no trade advice.

We’ve got some resolved overbought RSI, and price channel signals to boot.

Entry would be good around this range for shorts. Although if it does retest the bull channel, a short position could have a higher entry. But, that isn’t necessarily the case, we work with what we know, and for now, it looks as though this entry would be great for an 11% ROI, or 1375%+++ for my scalp homies.

Profit take - throughout the trade depending on trend angles and MA’s (primarily the 200ma on any chart) watch to see weather we’re at the top or bottom half of the regression and as long as sellers are strong, feel free to average back in.

Stop losses - should be adjusted throughout if you profit take (we all have our own strategies for this) I use Hedge mode on Binance. Stop losses on this should be tight, and we’re still in a questionable time frame, with 6mo CME puts expiring and new investors joining all the time. I also use hedging for this to smooth large price fluctuations but, if you must, use your risk management strategy to determine.

Hope y’all see something in there that is useful. ☺️

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.