2018-6-7 BTC SHORT (short term)

Just opened a short position in BTC, let's go to the facts:

• We have a big resistance at ~7770 that we just failed breaking up
  
• RSI is a little bearish
  
• MACD is bearish
  
• No significant chart pattern can be found right now
  
• Market is looking too much manipulated this week
  

Being that said, this is a risky positioning. Money management is a must have.

• Stop-loss: $ 7781
  
• Entry: $ 7701
  
• Profit: $ 7605
  

Money management

• Volume: 5% of main capital
  
• Risk: 1%
  
• Reward: 1.25%
  

This is not a good R:R trade, if you managed to enter a little closer to the resistance, you will get a better chance. I entered
at the price I mentioned. Do your own analysis!

Comment:

Current scenario of this position:

SAR got bearish, RSI and MACD are still bearish too.
I've slided the stop-loss a little down ($7729).
Target still the same.

Comment:

Last hour candle closed in a candle pattern (doji) that shows indecison about price direction from now on.

Trade closed manually:

Even though price action was confirming my expectation, volume was too low, so I decided to close the position while there was profit to take yet. Position closed at $7660 with 0.5% profit.