After so much crazy running up, BTC & friends may have found a (temporary) top.
I am shorting ADA as it gives me a better set-up:
- it reached the 618 fib from last downwards movement
- it broke the local uptrend line
- 15min bearish candle appears + local double top
- 8 EMA may be curving into the 89 EMA
Now... it does not mean price will surely be able to get to my target but the AB=CD pattern may show the way
I will close some positions while (and if) price moves down; moving SL to BE if R:R reaches at least 2:1.
Trade with care!
I am shorting ADA as it gives me a better set-up:
- it reached the 618 fib from last downwards movement
- it broke the local uptrend line
- 15min bearish candle appears + local double top
- 8 EMA may be curving into the 89 EMA
Now... it does not mean price will surely be able to get to my target but the AB=CD pattern may show the way
I will close some positions while (and if) price moves down; moving SL to BE if R:R reaches at least 2:1.
Trade with care!
SL was moved after it reached 2:1 R:R as per plan
No gains, no losses
Will find new opportunities
Sorry for the late update, I didn't have the chance before
Plan was clearly stated in original post anyway