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DewyCandles
Mar 26, 2024 10:01 AM

DOT UPDATE - LOWER TIMEFRAME - $4.7RR HIT Short

DOT / TetherUS PERPETUAL CONTRACTBinance

Description


After the long trade hit target with a risk reward of 4.8 on the previous analysis
we took the short immediately hoping to see it fall as shown on the chart. If you haven't enter this trade I believe this is the perfect entry time.

However a very important note: this short is just to hedge the overall position on our spot bag here
our main direction on the mid-long term is bullish this lower timeframe are just momentary trades so never let it outweigh the spot bag.


OTHER ANALYSIS









Comment

After hitting target for the long trade we took a degenerate move to short again this time to hedge the spot position on dotusdt. Now the first entry is at breakeven and the second entry is at least 1:1 risk reward let see how this plays out.

Trade closed: target reached

Trade active

Comment

even though we later closed this trade too early, it sure followed the analysis. See update

Comments
DewyCandles
set stopnloss to breakeven for this short - price not looking decisive. We will continue to hold the spot regardless
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