Short

Bitcoin Short Scalp

Updated

Little scalp here at the range high/B wave of the most likely running flat coming up. TP will be adjusted to front running the .618 for wave c.

Note

Raised entry and stop a little, Entry: 12,420 Stop: $12,920 Profit: 11,525

Risk:Reward is 1.9

Will update if the short fills.

Trade active

Trade is active. I am going to be reducing the stop after/if we wick up one more time. Right now, I'm lowering TP to $11,125 just in front of the 1:1. I believe we are headed to 11k region because of the wick earlier today down to $11,550. The amount of long stops and over leveraged longs on that drop leads me to believe the downside is the easiest direction atm. Another alternative line is we drop a little here, consolidate and then head up to 12,900. If this occurs, I am going to try to get stop to even or close to it and re enter closing to where my stop is atm. This dip needs to happen relatively fast or I will be looking to close out.

Note

Stop adjusted to 12,501. Risk is reduced by 84%.

Note

Stop adjusted to 12,415. If a ton of buy volume comes in out of no where I'm going to close the trade in profit...but as of now there is no buy volume. Currently my tp has not changed, although I might be able to run it further than the .618 I'm just going to bink the when there because the reaction COULD be violent to the upside.

Note

has changed*

Note

11,515

Note

TP adjusted to 11,310 just in front of golden from the new range high to the low. We are getting a lot of bear div on rsi and mac-d is negative..there is quite a bit of sell pressure and I think we are still headed down. Stop adjusted to 12,205..above the golden and above the 1.618 off this double touch of the local low.

Note

TP hit + 2.21R

charteen

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