In this graph, I plotted the IchimokuCloud from the 24h graph in the 1H graph to ilustrate my strategy.
So, price seems to be aproaching the ichimoku cloud after a lot of sideway movement. Since I believe crypto-crash isn't over yet, I think this is a great moment to short for a couple of different reasons:
1) We are very close to the stop-loss. I would close my position if a daily candle closes above the ichimoku cloud.
2) Since we got a lot of volatility lately, our targets are way below the current price. This make this trade very profitable.
3) Our target #1 was already tested twice, making it highly possible that we break this support this time.
4) We're currently at a rising wedge pattern formation, very close to price resistance.
Still, I would still go low-leverage on this trade, since we've broken past resistances. Technically, we are in an upward trend.
Don't follow my strategy blindly, I'm nothing but an amateur. This trade is very risky since it's counter-trend, the only reason I'm in it its because we're so close to the stop-loss. Anyway, keep your money safe. Good evening.
So, price seems to be aproaching the ichimoku cloud after a lot of sideway movement. Since I believe crypto-crash isn't over yet, I think this is a great moment to short for a couple of different reasons:
1) We are very close to the stop-loss. I would close my position if a daily candle closes above the ichimoku cloud.
2) Since we got a lot of volatility lately, our targets are way below the current price. This make this trade very profitable.
3) Our target #1 was already tested twice, making it highly possible that we break this support this time.
4) We're currently at a rising wedge pattern formation, very close to price resistance.
Still, I would still go low-leverage on this trade, since we've broken past resistances. Technically, we are in an upward trend.
Don't follow my strategy blindly, I'm nothing but an amateur. This trade is very risky since it's counter-trend, the only reason I'm in it its because we're so close to the stop-loss. Anyway, keep your money safe. Good evening.
Comment:
Please note: we need a confirmation candle to confirm the breakout upwards and, consequently, the stop-loss in this trade. Trade safe.
Trade closed: stop reached:
Waited for price to retrace to close it on a better price. It was worth the try!