Why I'm STILL shorting ADA
01. A trend will trend unless proven otherwise. BTC is going up, which means alts go down. BTC looks like it will correct any moment. And when BTC goes down, alts go down.
02. Anytime ADA rallies I just keep shorting it. The rally is short lived.
03. EMAs (8, 13, 21, 55, 200) is nicely trending down instead of whipping or criss crossing. This shows a clear downtrend. In fact, ADA's price action has a hard time breaking 21 EMA (yellow line).
04. Mechanically, trading is simple -- you just look at the chart and punch in the orders. Emotionally, trading is hard because there is the unknown, and short term market movement is random. However, people forget that the price on the chart is imprinted human emotions -- it's not completely random. As long as it's downtrending I'll continue to short.
05. As long as BTC is climbing and not consolidating, I'll short alts. And when BTC corrects, I'll still short. Only when BTC consolidates that I will flip over to longs for ADA.
06. Never be a perma bull or bear. Objectively look at the chart and figure out the bias for the direction of that time frame.
02. Anytime ADA rallies I just keep shorting it. The rally is short lived.
03. EMAs (8, 13, 21, 55, 200) is nicely trending down instead of whipping or criss crossing. This shows a clear downtrend. In fact, ADA's price action has a hard time breaking 21 EMA (yellow line).
04. Mechanically, trading is simple -- you just look at the chart and punch in the orders. Emotionally, trading is hard because there is the unknown, and short term market movement is random. However, people forget that the price on the chart is imprinted human emotions -- it's not completely random. As long as it's downtrending I'll continue to short.
05. As long as BTC is climbing and not consolidating, I'll short alts. And when BTC corrects, I'll still short. Only when BTC consolidates that I will flip over to longs for ADA.
06. Never be a perma bull or bear. Objectively look at the chart and figure out the bias for the direction of that time frame.
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