LPT SHORT SWING SETUP
Updated
Price goes the path of least resistance, so im shorting on the basis that the capitulation signals a local top and this rolls over for accumulation around 2-3$ until next bull cycle
40d/20d candles both flipping red here and with my last post i showed you guys why i believe this retraces below that buyer capitulation and sells off, pretty common pattern going on for alot of altcoins and i dont think this one is any different. Shorting at 6.96 with a stop above the wick on this candle, it may still go higher yet so excersize caution if you're using leverage be sure to use low leverage and small sizing.
comp/usdt has the same fractal as i said on my last post so using that we can expect a 30-40% move over the next month or two
take profits and stop loss on the chart!
I think sometime in the first few days of September we see this begin to sell off, probably wont drop until next month though.
40d/20d candles both flipping red here and with my last post i showed you guys why i believe this retraces below that buyer capitulation and sells off, pretty common pattern going on for alot of altcoins and i dont think this one is any different. Shorting at 6.96 with a stop above the wick on this candle, it may still go higher yet so excersize caution if you're using leverage be sure to use low leverage and small sizing.
comp/usdt has the same fractal as i said on my last post so using that we can expect a 30-40% move over the next month or two
take profits and stop loss on the chart!
I think sometime in the first few days of September we see this begin to sell off, probably wont drop until next month though.
Trade active
considering moving my s/l to a 4h close above 7.367 seems to be alot of indecision but this is green on the new month and above 7.4 its highly probable that we see at least a wick above the buyer capitulation (8.9-9.5) to take liquidity on new month which is where i would decide to flip long or try to short to new lows potentially
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