Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
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I believe we will eventually break downwards from this huge descending triangle and form a falling wedge, but in the meantime I am shorting BTC again as price looks unwilling to even approach the upper trend line (solid gray on chart).
Entry Price: $6,305. Target Price: $6,025. Initial stop was $6,450 but has now been tightened to $6,325. I'm going with high leverage on this trade, so will look to move stop to entry ASAP.
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Took profit at $6,200. Looking to reopen short position higher.
68.4% profit realised on this trade so far.
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Opened a small short position at $6,194 in case we don't recover back above $6,200.
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Abandoning trade early due to a conflict with my trading rules. Will take some time and come back.
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I stand by my decision to leave this trade early - my judgement was impaired and I was thinking emotionally. Congrats to anyone that took this trade and stayed put. Huge.
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"I believe we will eventually break downwards from this huge descending triangle"
Didn't expect this so soon, but we have broken downwards as anticipated.