altcoinmentors
Short

Going for Six in a Row! BTC Short Term Sell Signal

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
All of our wave indicators are still flashing negative. We took a small profit on our last short term trade and now we are going for 6 in a row ;)

Our short entry was at 9200 with a target of 8200-8500. Once again though since we are so close to the 200 EMA we will keep a close eye. If it breaks the 200 EMA , we will use it as a natural stop.

Trade closed: stop reached: As I wrote last night because we are hovering around the 200 Daily EMA we kept a tighter stop then usual. After it broke through the EMA BTC went down to 8450, we lowered our stop to protect profits. Once there was a new higher wave, lowered our stop loss just above the wave and then got kicked out at 8750 with a 5% profit.

We are not taking any long positions at the this time and will wait for anther short opportunity.
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RIP
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I didn't understand one word of it, but when I hear the word "short", I assume btc is going down.
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