Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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Im bearish on the XBT Nice correction from almost 14k, time for a temporary trend change. A bounce from the 50% fibo, good sign we are going down. Last few months this overbalance method was very profitable
Buy: 11915 TP1: 11591 TP2: 11064 TP3: 10301
SL: 12435
Comment
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50% of the position closed on the SL level, the remaining half is in play
Trade active
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First TP hit at 11591, retrace back to entry - buyback 1/3 of the position
Trade active
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Entry hit - buyback 1/3 of the position First TP hit the second time Second TP hit
Trade closed: target reached
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Third TP hit
Comment
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To recap the trade:
Lets say we traded a position of $100 SL took down 50% of the position, so we are left with 50$ First TP gave us a 1:1 of 1/3 of the position, so +$16 We bought back on entry and then sold at the second hit into the TP2 +$16 TP2 gave us x2 of 1/3 of the position so +$32 TP3 gave us x3 od 1/3 of the positon so +$48