Quick short from the 4hr descending triangle breakdown at $9849 when it comes around again for the third time and anticipated today or tomorrow, probably after a final rejection from 10k. Target is the base of the support area at $9275 with a tight stop loss at $10,101 (2.56%), probably initially to liquidate some overleveraged longs. All short and long-term moving averages are trending south, in bearish formation (20,50,100,200) with the RSI forming bearish divergence while getting rejected from neutral territory at 40. Risk reward is 2.28.
Trade active
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Stop loss now break even at $9,849.
Comment
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Stop loss tightened to $9750 (+1%) in case of support from upwards sloping trend-line, as well as sequential 9's on 4hr and daily.
Trade active
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Stop loss moved to $9550 (+3%), getting oversold but broken support trendline.
Trade closed: stop reached
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Closed for 3% profit.
Comment
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Should of kept a loser stop loss, wasn't expecting that so soon!