Long weekend! Time for a Quick short!

POLONIEX:ETHBTC   Ethereum / Bitcoin
737 15 10
The move up looks to have been rejected which really surprised me this time round as the volume was very good but it seems to have been rejected over the last few hours. i did have a small long which is closed already turning it into an instant short once i realized bullish sentiment is rejected it with bears still in control.

Opened short - 2075

Target - 1880-1930

stop - 2125

As always we will be reevaluating the position in trade, usually i like to hold these positions on a much larger time frame when shorting eth from the top but this position will be a bit different, it will be a very strict target & stop without much room to maneuver taking into consideration the bullish move had good volume & eth has some events coming up at the end of the month.

time to watch this trade come good & recover from the mad weekend. good luck all.

p.s good hangover cure -> honey on toast + 1 banana + 1-2L of water before bed ;-)
Trade active: still open, just moved slightly the stop mainly due the bullish BTC move which predictably ended the gradual grind up, have now moved the stop to the original point.

if we dont gain momentum to downside in the next 4-8 hours i will most likely close this trade.

currently the price has dropped below previous resistance which is still giving this trade some hope.
Trade active:
Trade closed manually: got very lucky with some panic last night, nice dump down hit over 70% of my orders.. most contracts got eaten up at 1955 rest i closed at break even today.

bit of a lucky trade which reflecting now was very risky in the first place due to timing of the trade, will take it anyway, everyone has a lucky trade once in a while. :-)
Good luck, i think you have a winner.
veryevilone PRO veryevilone
I think 1800 will be tested again
veryevilone PRO veryevilone
I am concerned its a bullflag now on the 4H, so i will abstain from shorting. Good luck.
Greenhill veryevilone
hi.. thanks for your observation. i see that flag to but still holding the short, major resistance here & lack of momentum, should see bearish momentum picking up shortly.
It's not an event at the end of the month, It's devcon2 and the blockchain summit happening in shangai next week. A lot of people are expecting good news. Could be a very good short opportunity if nothing big happens. But I think your short comes a little bit early. Good luck though!
Greenhill alexEnShort
hi alex thanks for your comment,

this is a play on the shorter time frame with a conservative target, will be played out long before the meet u at the end of the month, its under water now but there is still time for it to come good, stop under no threat, hopefully it will dip as i expect over the next 2-3 days to hit target.
I have to disagree with you on this trade, weekly downtrend seems broken.
hey koryu... yeah i agree but this is not a trade on the weekly, i mentioned in the write up its a trade on the shorter time frame.

its not exactly going well but im still holding, could have closed but want some sort of profit ;-)
all good now!!!
Greenhill outfodamilli
haha yeah happy days.. about to dump very hard...
woodygar Greenhill
i just started to short as soon as i heard the news, good call
woodygar woodygar
Greenhill woodygar
i closed as soon as news came out bug was fixed.. most orders hit on wicks down on the panic.. the remainder i closed at break even...

bloody lucky , not a good trade to be honest, was way too risky lool.. got to love luck, what was the chances of the bug news just after shorting it lol
koryu PRO Greenhill
looks like you got lucky that there was a bug and caused some panic ;-)
hahah yeah most of position got closed with wick down, glad got out of that, timing of trade not good really just pure luck with this one lol.
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