Something little different that Bitcoin today. I have identify a loss risk trade. Stop-loss is close and possible profit target is lot more bigger. The ABCDE triangle consolidation provide us a decent breakout but this one have been struggle and squeezed by the bigger range. In a range you sell the top resistance : basic rule. I have not a lot of time (i hope in some weeks it will be better) so here is the schematic chart once again. First target for partial profit is the bottom of the range, next one is well under it. I would reenforce the short position if we break the bottom of the range.
As always, i do it for my personal trading and entertainment. Have a nice day and a lovely week. And be patient on crypto. Nothing to do on the market for now.
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Low risk*
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Market have hit my validation point that's mean i'm not breakeven with my stop loss. I hope some people have follow me. I can't lose money anymore on this trade. Let the fun begin.
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Since the market hit my validation point and rebound my stop-loss over 2K8 is paid. With this security i'm reinforcing my short position at the current price : s3.amazonaws.com/tradingview/snapshots/e/eV96VUpm.png and i'm looking for a third reinforcement just over. My stop-loss remain at the same level.
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Just under my stop-loss, not looking good for my reforcement. Let see if the stupids bulls of Wall Street can calm down.
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I didn't use my stop-loss yet because maybe the rise was only to close the gap of the first wave of correction. Now the gap is close. If we pass 2856 again, i'll close my position.
Trade closed: stop reached
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I'm out, even if i believe the SPX will not remain bullish for a long time. Waiting a better entry point.
Trade loss : around 3,8%.
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Hehe, you can see, finally, my target is nearly done. Unfortunately, predict the timeframe is very hard if it's not impossible.
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As some of my followers know, I have re-entered my short when we backed in the channel. My previous -4% loss is now a +11% win. The perfect way to end 2018 which is probably one of my BEST trading years!
Don't forget to follow to be ready for the updates! And takes the best trade for 2019!
Wish you happy Christmas days!
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You can see my FINAL TARGET has been hit, two days ago. All my profits have been filled, I'm now seeking a new short entry.