Here are some details on how I develop my positions.
Similar to my last post, we have moneyflow trending out, momentum trending out, and we've knocked on a local top and got rejected.
This is crypto so we need to have flexibility to maneuver. Never all in on one spot. We're not looking to make our year in one trade. We take bits and pieces protecting our account to come out ahead in the long run.
Position 1 is active at the local top rejection. Momentum gave us the indicator there it was good. Lower time frames had moneyflow pulling out hard.
Position 2 - 4 are for the non US Sessions that take their positions and push market makers to exit as many traders as possible before flushing price the other way.
- These positions are not set at a specific $ level, just areas i'm looking for momentum and moneyflow to indicate games are being played and the rug is coming out.
I do not want my full position added in below the previous range high. Often we'll get large wicks above those levels to trigger stops. We want liquidity to grab that liquidity and get a solid average entry.
If momentum or moneyflow develop into a stronger incline, then we'll simply pull our positions higher and wait for the right signs.
These are short term trades (few days) not scalps and not weekly swings. We're looking to take profits at key levels and potentially re-enter the opposite direction with some of our previous position still open as a hedge.
Good luck everyone!
Similar to my last post, we have moneyflow trending out, momentum trending out, and we've knocked on a local top and got rejected.
This is crypto so we need to have flexibility to maneuver. Never all in on one spot. We're not looking to make our year in one trade. We take bits and pieces protecting our account to come out ahead in the long run.
Position 1 is active at the local top rejection. Momentum gave us the indicator there it was good. Lower time frames had moneyflow pulling out hard.
Position 2 - 4 are for the non US Sessions that take their positions and push market makers to exit as many traders as possible before flushing price the other way.
- These positions are not set at a specific $ level, just areas i'm looking for momentum and moneyflow to indicate games are being played and the rug is coming out.
I do not want my full position added in below the previous range high. Often we'll get large wicks above those levels to trigger stops. We want liquidity to grab that liquidity and get a solid average entry.
If momentum or moneyflow develop into a stronger incline, then we'll simply pull our positions higher and wait for the right signs.
These are short term trades (few days) not scalps and not weekly swings. We're looking to take profits at key levels and potentially re-enter the opposite direction with some of our previous position still open as a hedge.
Good luck everyone!
Comment:
Guess we nailed it.