Short

Shorting Doge @0.095 >> Targets: TP1 0.07 TP2: 0.0617 TP3: 0.045

Updated

I will hold this short until 0.045 IF the move is sudden OR goes steadily in a channel IN THE LOWER TIMEFRAME (1 AND 4 HOURS).

If it looks more like a EVE and EVE/ADAM pattern, I will close it around TP2.

Then I will look for some opportunistic longs for potential Elon / Twitter news flow.

Trade active

Still holding the position. Added to the short around USD0.105

Note

One note: I try to use very low leverage.
I often start the position below 1x leverage and scale up to at most 1.5-2x.

I strongly advise against any use of leverage above 1x when starting out the position and adding only 50% more to the initial position when scaling in.

Note

Position broke even
batch 1 @.095
batch 2 @.105

Now unloading batch 2 at BE.
So far, we have nicely scaled the entry cost up to 0.100 with no drawdown.

Now, I am more inclined to expect a sudden downward impulse rather than a steady decline, TP updated to 0.0510-0.0530

Note

Closing the trade manually here at 2% profit to reduce short exposure to the market.

It seems there is some strength in the market and I am going neutral.

Overall, in the last week we achieved 36% return.
(LIT long brought 35% + DOGE short 2% and BAND short -1%)

absalpha

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