Hedgehog_king
Short

Struggle on the 4h cloud... who will win?

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
- We are struggling to pass the green 4h zone, if we hold here too long we will shoot down...
- OBV keeps on creating lower lows, it's struggling to find buying power.
- We struggle to create higher high then the previous one, I noticed that on many cases usually when this happens after a divergence (On volume ) happens, then it means continuation pattern which means down.
- We are close to the resistance ceiling of the descending triangle which means we don't have much room left to hold this zone, and usually descending triangles at bottom of bears are bearish continuation...
- Volume keeps dropping

The SLs for bulls and bears should be around 8300-3100 zones, also it looks like we struggle on the zone of MA50 and E50 (8200-8160), which ever wins will turn into strong support/resist...
As usual, I personally have bearish bias, so I''m shorting here again.

Good luck friends :)
Trade active: Signal:
#Short#CurrentPrice8169
Enter: 8200-8100
SL: 8300 (Risk: -1.84%)
TPs: 8060 (10%), 7960 (10%), 7800 (30%), 7700 (10%), 7480, 7260, 6900, leave 10% for any lower parts...
Portfolio risk: 5-10%
Trade closed: stop reached: Update signal #Short#CurrentPrice8169 (Entrance: 8200-8100)
SL was hit at: 8300
Portfolio risk: 5-10%
LOSE: -1.84%
Comment: * Shorts got rekt this time, but those who had SLs ready should not suffer much losses...
* I'm flat on my trading portfolio, waiting for closing daily candle...
* Closing above: 8500 => Might be bullish (Though I'm not convinced yet)
* My main issue is that OBV still doesn't fit the bullish buying power, and there is bearish divergences on volume on daily TF, so we should confirm both on the next few days (Until weekly closes in)...
* Also I think now could be a nice short forming up again ;)
* I will quote someone I really appreciate: Peter Brandt:
"
A chart pattern is only a possible pattern until it is completed. At that time, the pattern may:

-Fulfill its trend/target implications, or
-Fail & reversal in opposite direction, or
-Morph into new construction
A pattern only has usefulness if it offers a measured risk trade
"
Comment: Hedgehog king - Crypto arena ,
Guys, Im laddering shorts (didnt have time to post a signal yestarday after the bullish price push, so bob did), and I will update another signal soon (which will add to bob's signal). sorry, not convinced at all from the price moves, to me it was natural price action (I will explain why and what I missed here) but not confirmed to hold it..
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Hedgehog king - Crypto arena ,
I didnt provide signal yet. was late and busy ... but it looks like we already started dropping. if you are on Bobs short signal then its fine too, if you are flat then its also fine, I hope you guys didnt go long
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Hedgehog king - Crypto arena ,
Also I wanted to explain what happened yesterday so you learn from my mistake:
- Sure all I said was relevant, but I gave more weight to pattern and volume then to PA for the candles themselves (which is usually a mistake)... we had bullish engulfing on daily (with confirmed volume which was abive the bearish volume on the previous candle) and on 1h (also confirmed volume) before we broke up, and also had something familiar to morning doji star on weekly (I ignored it because the doji wasn't really a doji, but it did act that way in the end, it doesnt have to be a perfect doji on the matter, as long as it acts with same rules)...
- I should have gave an exit from position when the bullish engulfing formed but I wasnt really much infront of charts to do so.
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Leason: Candles matter more then anything else, perfect to know them, and combine them with S/R, and Fib' and you will be much better trader out there.

Hedgehog king - Crypto arena ,
This is also a reminder for myself, as I usually do give priority to candles, but sometimes we tend to forget or miss-out these.
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Hedgehog king - Crypto arena ,
- Yestarday the main cause for break up was daily and hourly bullish engulfing, and weekly morning doji star rules.
- Most oscilators overbought atm.
- No volume buying power to hold the current price.
- And we have bearish div on volume.
- watch the 4h candles, might close as bearish engulfing (there is a fight for it right now)...

I laddered shorts around 8500-8700 (ema200 on daily), my sl 8730, TPs: 8475, 8325, 8200..
Comment: I went out with 50%, and sl at breakeven atm just in case, as there BTC looks very indecisive atm, and scary, as if the calm before the storm..
Comment: BTC is having a stroke, I didnt wint nor lost here.. hit sl yestarday at breakeven guys..
these 1h candles 8600 to 8820 and then to 8370... fucked up lol , but to me this is a sign for bearish again, this big movement spike up was to collect liquidity down, volume doesnt fit at all to that move, extream manipulation just happaned here guys, fake out, bull trap, sl hunts call it whatever, this was a big move guys.

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