Using the Smoothed Heikin Ashi candles (HODL Flip V2) indicator by R.S. with settings of 6:6 for the input settings ADAUST was already an active short bias using a 1D chart. This is my first step before I look for short-only opportunities to trade in smaller timeframes like the 1H or 4H
To be honest, I was busy and placed a very small short yesterday and then got quite busy with other stuff. I noticed the price had moved up against me so I added to my short to average my entry higher, place a SL and went to bed. Today I happened to check the 4H chart and see the price had moved up bounced off resistance and was heading down in my favor now.
Suffice it to say, but this was a major support/resistance I can see has been respected over the last 18 days+
Therefore, even if the price forms an inverse head and shoulders and moves back up ultimately, I think a quick 2.6% move for a short will happen first as a worst case scenario.
Or, we get some more world news that spooks markets again and we get some wind behind all markets falling like April 2 and we get the best trade of the month;-)
To be honest, I was busy and placed a very small short yesterday and then got quite busy with other stuff. I noticed the price had moved up against me so I added to my short to average my entry higher, place a SL and went to bed. Today I happened to check the 4H chart and see the price had moved up bounced off resistance and was heading down in my favor now.
Suffice it to say, but this was a major support/resistance I can see has been respected over the last 18 days+
Therefore, even if the price forms an inverse head and shoulders and moves back up ultimately, I think a quick 2.6% move for a short will happen first as a worst case scenario.
Or, we get some more world news that spooks markets again and we get some wind behind all markets falling like April 2 and we get the best trade of the month;-)
My Substack website provides my regular vlog establishing daily chart price trend bias for traders and investors to gain useful data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
My Substack website provides my regular vlog establishing daily chart price trend bias for traders and investors to gain useful data.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.