New high leverage positions opened on top of my SL on the BTC short follow up trade I have active. This is an inverted range chart showing liquidation levels and a good view of market structure. You should clearly see why I am adding more risk by adjusting my SL to that level. This should make it easy to see why I have opted to take this trade. At least it is my logic behind this trade. Worked well on the way up should work just as well going back down. Looking at the market this way helps make things much clearer to me. I believe it is why the institutions and market makers use inverted charts so often. Could be just to mess with us but I doubt it. It does cause the opposite effect so many experience in the markets.
Maybe this will give someone a fresh perspective on the markets. I know it did me a long time ago, especially when seeing the liquidation levels and how they are drawn. Pay close attention to how it is drawn. This is as close to live levels as I can get on TV. They are added with each new bar. I will post the regular version as a follow up and let it populate the amounts of each of the liquidations and other data. To really see it I recommend seeing it on a live chart, it is quite something to see.
I hope this doesn't cause more confusion but for me it made things so much clearer. It was confusing at first though. I also market where my weaker stop loss was at or close to it. I didn't plan on publishing the charts because it is a mess and the scales are adjusted poorly so everything may be seen. It was a large trade range.
This will also help show you what's going on but not as clearly and doesn't show liquidations. This is BitFinex chart with an aggregated heatmap overlay also and the one on here KuCoin cause that is where my trade is at, but I prefer using BitFinex charts cause they go all the way back or at least further back then any other ones I know of.
https://bitcoinwisdom.io/the-heatmap#
Curious what others think? Should SL be adjusted and add more risk to the trade or keep it as it is. I can't modify it on the publish cation so if we decide to modify it it has to be marked manually. There might be no need to as the trade was progressing nicely. It does look on the smaller time frames that it could take out that SL at the current level. Tough decision. Need to reanalyze the higher timeframes as I haven't done that since I published this idea.
Maybe this will give someone a fresh perspective on the markets. I know it did me a long time ago, especially when seeing the liquidation levels and how they are drawn. Pay close attention to how it is drawn. This is as close to live levels as I can get on TV. They are added with each new bar. I will post the regular version as a follow up and let it populate the amounts of each of the liquidations and other data. To really see it I recommend seeing it on a live chart, it is quite something to see.
I hope this doesn't cause more confusion but for me it made things so much clearer. It was confusing at first though. I also market where my weaker stop loss was at or close to it. I didn't plan on publishing the charts because it is a mess and the scales are adjusted poorly so everything may be seen. It was a large trade range.
This will also help show you what's going on but not as clearly and doesn't show liquidations. This is BitFinex chart with an aggregated heatmap overlay also and the one on here KuCoin cause that is where my trade is at, but I prefer using BitFinex charts cause they go all the way back or at least further back then any other ones I know of.
https://bitcoinwisdom.io/the-heatmap#
Curious what others think? Should SL be adjusted and add more risk to the trade or keep it as it is. I can't modify it on the publish cation so if we decide to modify it it has to be marked manually. There might be no need to as the trade was progressing nicely. It does look on the smaller time frames that it could take out that SL at the current level. Tough decision. Need to reanalyze the higher timeframes as I haven't done that since I published this idea.
