Even though I am optimistic about crypto, I can not walk free this technical play. The break up from the triangle can be considered as a trap so the move back to its base is a good point to short it. And as potential target it would be logical to break both previous supports and clean up the way to make a healthy move later.
Trade closed: target reached:
“It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong.” Soros
Unfortunately, being dead right I lost in this position. The reason? Too much involvement, I simply could not believe the first leg could go further. So I closed my short. Worse is I initiated buy and was caught in the morning in deep red.
Unfortunately, being dead right I lost in this position. The reason? Too much involvement, I simply could not believe the first leg could go further. So I closed my short. Worse is I initiated buy and was caught in the morning in deep red.
