Hello, we are hitting all kinds of resistances, as shown by the 3 blue lines.
Also, the momentum slowed down. I noted the RSI divergence but oscillators are really useless in my opinion. It is just to "visualise" better here.
The price went up during shutdown, it has been a while, for some reason the stock market went up during that time. If there is a correlation, well the shutdown is taking a break, so price should stop going up? Maybe maybe not, just one more reason to short. Longest in US history btw.
If the EW is to be correct price will not go much further. I am not blindly obsessed with risk reward I think it is overrated, but anyway this is a really good area generally, with decent odds and best RR.
You can also set a SL higher than what I showed, just above swing high at 26000 points. I like it where it is, if we go that far... the odds are really low of going down, I mean... all the trendlines do not make any sense anymore, that means one of the main reasons to take that trade is invalidated, so... no point having a SL further. In my opinion...
With a stop loss at -- check broker -- 25677, the minimum risk for 1 CFD will be ~50$ I think. Cannot go smaller than that. I know in crypto there are alot of tiny traders making troll orders, but min is going to be 2500$ position here, and risk 50$ for that.
10 CFD = risk $500. Time to completition, to give an idea of the timeframe, lose would be a few days, partial profit if it gets hits *should* be hit in a week or two or 3, full profit in weeks to months.
Also, the momentum slowed down. I noted the RSI divergence but oscillators are really useless in my opinion. It is just to "visualise" better here.
The price went up during shutdown, it has been a while, for some reason the stock market went up during that time. If there is a correlation, well the shutdown is taking a break, so price should stop going up? Maybe maybe not, just one more reason to short. Longest in US history btw.
If the EW is to be correct price will not go much further. I am not blindly obsessed with risk reward I think it is overrated, but anyway this is a really good area generally, with decent odds and best RR.
You can also set a SL higher than what I showed, just above swing high at 26000 points. I like it where it is, if we go that far... the odds are really low of going down, I mean... all the trendlines do not make any sense anymore, that means one of the main reasons to take that trade is invalidated, so... no point having a SL further. In my opinion...
With a stop loss at -- check broker -- 25677, the minimum risk for 1 CFD will be ~50$ I think. Cannot go smaller than that. I know in crypto there are alot of tiny traders making troll orders, but min is going to be 2500$ position here, and risk 50$ for that.
10 CFD = risk $500. Time to completition, to give an idea of the timeframe, lose would be a few days, partial profit if it gets hits *should* be hit in a week or two or 3, full profit in weeks to months.
Buying is so much easier, I assume because of people bagholding mentality and the desire to buy something that will go up 600%
Does anyone even make money shortselling?
Does anyone really lose money buying?
Long only you also do not have to worry about this :)