Get started

Short-trading

MELI Analysis showing possible drop.1d Time-Frame Analysis Lets start with the bigger time-frame, with the bigger picture. NASDAQ:MELI is at level 2 rise, meaning it's missing one more leg to the upside. Then, why short this? Just checked the cycles and I see that MELI does level 1 rise, retrace, level 2 rise, M formation, drop. So instead of level 3 being the peak formation before the reversal, level 2 is the peak of the cycle, and now we are in level 2 with an M formation! 4h Time-Frame Analysis 4h time-frame seems to be a copy paste of 1d time-frame. We can see the cycle to the downside, with only 2 levels and the second level being the peak formation, and now we can see two levels to the upside, with this level 2 being the possible peak formation. Trade light Be careful guys, trade light. I'll set my SL at 1918.59, because if price touches that price level, the M formation will be possibly invalidated. Though, I'll wait for the close of the candle to be sure I'm not closing a stop-hunt rise. On the other hand from 1874.80 to our SL we have 2.34%, so playing big would mean a big loss. I will use a 2.5% of my entire account. Take Profits Close 30% at 1742.83 Close 35% at 1674 Close 35% at 1583 Happy trading!
MShort
by chutireality
BNBUSDT Analysis showing possible drop.BINANCE:BNBUSDTPERP is one of the most manipulated coins in the market, since it's the coin of the biggest cryptocurrency exchange in the world, that's why you need to understand this is a risky trade, buy I'll personally take it. I'm looking for a short because of different reasons, the first and most powerful reason is because there is an enormous stopping volume candle with the POC in a really high point. This means Market Makers are probably favoring lower prices, that's why they probably built shorts at the highest possible price. Also, we have once more the famous M formation after 3 legs to the upside, meaning this could be the start of a correction. Talking about the entry of the trade, I would recommend you building a position, since we could see a bounce from here based on the TDI (4H) and the pins to the low in the 1h timeframe. Also be careful with the open of the new daily candle, weekend finishes and we could see some weird movement, don't get trapped. I think two things can happen, first possible scenario is that Market Makers make a stop hunt rise, drop. Second possible scenario, Market Makers break the 50 EMA (4h) with a lot of volume and starts the first level to the downside. Finally, I'll take profits at the Possible Retraces shown in the chart and I'll close my entire position once price touches the 200 EMA (4h). We play with probabilities and I think play will go in our favor. Happy trading!
Short
by chutireality