Big short, two short positions - working off (waited!) BTC/USDT
Good day, dear friends.
I'm glad to inform you that
Today I and my subscribers managed to catch all this movement.
Why we opened a short position instead of a long one, all the Description below.
Our first position was opened at 24010-24000. (Some opened it a little lower, at around 23950-23890 (but it paid off))
With targets such as:
23550-23150-22830-22570
Stop loss at 24550
---- ALL TARGETED TAKES ---
And the second position was opened at this level - 23490
Target: 23050-22380-21530-20270
Stop loss at 23950
for the second position - only 2 target ones (the position is still open)
And now about the main thing, why we opened this position and why it worked.
Look, I was expecting a strong momentum yesterday and my last short was to catch all of this movement. But it was closed by stop loss with a loss of 450 points. Today, We reopened the short position because we had such a picture at 2h TF
"impulse from a strong level === >>>> price return without a rollback to a strong resistance level from which we began to fall == >>> as well as news about a new type of coronavirus in ENGLAND + many traders were waiting for the breakout of the level 24000 + yesterday GAP +
And most importantly, it's a bearish downtrend triangle and as well as RSI 4H TF.
Now about the goals, many have long known that Impulse price movements are always multiplied by 2 (if you are counting on the second impulse)
And I was counting, because at the mark - 23490 -
We have formed a bearish flag.
This made me understand that I need to open the second position short, and set long targets. (Because the first impulse yesterday was 5% - so this should be about 10% fall)
That is why I set up such targets - you all see them on the chart.
And also, those who read my ideas know where I indicate the zone of distribution / accumulation of positions - you can see all this on the charts below, under this description!
We had a false exit for this zone, a long protraction in the flat - the levels of $ 23000-24000
All this spoke of a decline. And we managed to take it.
What I expect next - I will describe it in the next trading idea and explain why it can only be a correction of this growth.
If you like my idea, please support me with like and write a comment if you made money today or lost it!
I'm glad to inform you that
Today I and my subscribers managed to catch all this movement.
Why we opened a short position instead of a long one, all the Description below.
Our first position was opened at 24010-24000. (Some opened it a little lower, at around 23950-23890 (but it paid off))
With targets such as:
23550-23150-22830-22570
Stop loss at 24550
---- ALL TARGETED TAKES ---
And the second position was opened at this level - 23490
Target: 23050-22380-21530-20270
Stop loss at 23950
for the second position - only 2 target ones (the position is still open)
And now about the main thing, why we opened this position and why it worked.
Look, I was expecting a strong momentum yesterday and my last short was to catch all of this movement. But it was closed by stop loss with a loss of 450 points. Today, We reopened the short position because we had such a picture at 2h TF
"impulse from a strong level === >>>> price return without a rollback to a strong resistance level from which we began to fall == >>> as well as news about a new type of coronavirus in ENGLAND + many traders were waiting for the breakout of the level 24000 + yesterday GAP +
And most importantly, it's a bearish downtrend triangle and as well as RSI 4H TF.
Now about the goals, many have long known that Impulse price movements are always multiplied by 2 (if you are counting on the second impulse)
And I was counting, because at the mark - 23490 -
We have formed a bearish flag.
This made me understand that I need to open the second position short, and set long targets. (Because the first impulse yesterday was 5% - so this should be about 10% fall)
That is why I set up such targets - you all see them on the chart.
And also, those who read my ideas know where I indicate the zone of distribution / accumulation of positions - you can see all this on the charts below, under this description!
We had a false exit for this zone, a long protraction in the flat - the levels of $ 23000-24000
All this spoke of a decline. And we managed to take it.
What I expect next - I will describe it in the next trading idea and explain why it can only be a correction of this growth.
If you like my idea, please support me with like and write a comment if you made money today or lost it!
Graph, with accumulation / distribution area