I believe we will eventually break downwards from this huge descending triangle and form a falling wedge, but in the meantime I am shorting BTC again as price looks unwilling to even approach the upper trend line (solid gray on chart).
Entry Price: $6,305.
Target Price: $6,025.
Initial stop was $6,450 but has now been tightened to $6,325.
I'm going with high leverage on this trade, so will look to move stop to entry ASAP.
Entry Price: $6,305.
Target Price: $6,025.
Initial stop was $6,450 but has now been tightened to $6,325.
I'm going with high leverage on this trade, so will look to move stop to entry ASAP.
Note
Took profit at $6,200. Looking to reopen short position higher. 68.4% profit realised on this trade so far.
Note
Opened a small short position at $6,194 in case we don't recover back above $6,200.Note
Abandoning trade early due to a conflict with my trading rules. Will take some time and come back.Note
I stand by my decision to leave this trade early - my judgement was impaired and I was thinking emotionally. Congrats to anyone that took this trade and stayed put. Huge.Note
"I believe we will eventually break downwards from this huge descending triangle"Didn't expect this so soon, but we have broken downwards as anticipated.
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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.