BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
This chart is being posted for both educational and technical reasons!

On shorter time frames, Bitcoin has created a perfect bearish shark setup.

My Stop/Loss and all profit points are shown on the chart above.

The ideal setup:
  • Entry: $8000
  • TP 1: $7700
  • TP 2: $7450
  • Final Target: $7135
  • Stop/Loss: $8060
Comment: This pattern also increases the chances of the pennant pattern playing out long term.
Comment: Unfortunately my stop was hit for the perfect shark setup. For those of you who wish to remain bearish we still have an ANTI BAT setup.
Targets remain the same. Stop would be set to just under $8200.

I know that it is a shame that I took losses, however I too am trying to discipline myself by following the proper rules.
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Good attempt, harmonics were definitely in place, but also good example why stoploss is needed in all cased.
It is a bad idea to short parabolic moves, trust me. I also got stopped
I think it will be so. You're right.
@oh92 Good job!
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