Will we break this important triangle?

18 พ.ย. 2019

Will this triangle break down atlast? if so then we are eneter into uber bearish market.

PS: This was my earlier today signal which I posted in the group:
"
Hedgehog king - Crypto arena , [18.11.19 10:26]
#XBTUSD SHORT
Exchange: BITMEX

ENTRY: 8475-8435-8375

Take-Profit: 8245-8085-8045

Lev.: 5X
STOP: 8685
Small Position Size: < 5%
"

18 พ.ย. 2019

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Why I chose to tp 8245-8045?...
(at-list on the scalp trade, my personal swing trade started way above from other shorts and goes way below that)

I take 4 things into account:
1. Never go greedy and give some room for the TPs, I really think we can easily get to 8045, but its always good idea to tp along the way because profit is profit.. and never wait only for 1 target, as on many cases it doesnt reach there, you want to maximum your profits by taking them along the way and be safe.. also I really love when its abit above/below whole numbers, thus I really like xx45 and xx85, usually if goes below xx70 then xx45 is almost a sure thing, and usually if goes bellow xx15 then most likely we will hit xx85.. this is a good tiny scalps mark values for me.

2. 8k is very hard to break due to whole number and eapecially because its one of the strongest long term s/r focus. so we can easily test it and crush/pump hard from there.

3. last bull weekly candle started at 8233, so its vise to start taking profits under it because this is where the first wick on shorter TFs will be testing this break out (thus first tp is a bit above it)

4. We are under the weekly e21, more likely to continue down, but we also riding a massive triangle that not many look at (which os also riding the 2nd trend line which was the begining of this bull run, breaking it downwards breaks the bull run entirely), breaking it down means massive bear run is incoming for many good months before we can recover again.. so we must test it out and see if we we continue this triangle or atlast end its missery, so 8k

18 พ.ย. 2019

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Ofc there are other reasons for why we are bearish such as volume vs buying power.. cloud.. e21 on daily.. we riding under e50 and e200 on daily (I personally think that a crash below 8k will force them cross out while both pointing downwards which is the strongest cross), and other reasons

18 พ.ย. 2019

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The problem is that we might not have enough liquidity to push down, and thus we might need to trap bulls 1 more time, this trap might push us to around 8800, which will be the best shorting position. if we go there then the position for shorting should be higher if the current one fails, realistically: liquidity is the most important thing in market, even more then PA, because this what pushes PA, but personally from my perspective we had 3 nice rejection wicks already which were supposed to have enough liquidity to push down. if this won't happen today then I might close the signal.

18 พ.ย. 2019

ปิดการเทรด: ถึงเป้าหมายการทำกำไร

BitMEX
#BTC/USD All take-profit targets achieved
Profit: 22.7408%
Period: 10 Hours 13 Minutes

18 พ.ย. 2019

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