Branching off my previous two posts today, which are linked below and give an in depth analysis and theory behind this idea and plan, here are the details of my short trade on Bitcoin.
Entry - 121,400 to 121,700
Stop Loss - Keep it Tight at 127,400 in case Bitcoin moves up to 126,800 to form the head of an inverse head and shoulders (unlikely but I keep two direction ideas in mind always)
Take Profits:
105,700 - 10% Closure
85,800 - 10% Closure
67,900 - 20% Closure
43,800 - 60% Closure
From here, if I see Bitcoin start to rise from 35,000 - I will open a hedge long position, fully close 80% of short, and DCA all profits back into my short at 92,000 to 93,000
21,600 - 60% Closure
10,000 - 100% Closure
From here, I will buy BTC on spot at 8,000 to 10,000
Any questions feel free to comment below.
For each laughing face I will add in more to my short, which I am logging for a future post.
Yours truly,
- DD
Entry - 121,400 to 121,700
Stop Loss - Keep it Tight at 127,400 in case Bitcoin moves up to 126,800 to form the head of an inverse head and shoulders (unlikely but I keep two direction ideas in mind always)
Take Profits:
105,700 - 10% Closure
85,800 - 10% Closure
67,900 - 20% Closure
43,800 - 60% Closure
From here, if I see Bitcoin start to rise from 35,000 - I will open a hedge long position, fully close 80% of short, and DCA all profits back into my short at 92,000 to 93,000
21,600 - 60% Closure
10,000 - 100% Closure
From here, I will buy BTC on spot at 8,000 to 10,000
Any questions feel free to comment below.
For each laughing face I will add in more to my short, which I am logging for a future post.
Yours truly,
- DD
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.