Seems to be a breakout with a decent volume. I put my stop to my Entry point and increase my position
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Please note that if the price go back inside the pattern i will decrease my position
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I expect retest of the 594 area before the down. Could go straight also
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stopped at Entry point for break-even. Note : I come back to this trade if we get back in the pattern and expect a big move down if this happen
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I see this stop-hunts often, this why i put my stop to break even as soon as possible. This is actually tradable in both sides, but too complicated to explain here. If we go back in the pattern, i expect a huge move down, my target will be minimum 538 for a far better risk reward
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Entry around 600, according to price action
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Trade is active, SL 610 , TP 570 and 538
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Expected red candle, Stop at entry point now
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I will take 25% at 570, 50% at 538 and let the 25% left to ride it until 305 as a swing trade
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Stopped at Break-even again. looking for re-entry after this fishy pump
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Looking to enter if it goes under 603-601.5
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Entry 602 SL 606 TP 25% 591 TP 50% 572 TP 25% 305
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Here's comes the big red candle i expected, moving stops to Entry
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Moving Stop to 600
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TP1 Reached : Trade in profit
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Will be busy this week-end Reminder : I am now freerolling 75% of my position Stop is still 600$, i will move it to 590$ after TP2 is reached at 527$ Remaining 25% of the position will be kept until 305$.
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Erratum : misspelled : TP2 is at 572$
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TP2 Reached I let 25% of my position running until 305$ and have profit locked. Total success. Another trade learned us that finding a setup is easy, managing a trade is hard. This trade is good education it shows why you need to enter at the right time and lower your stop to your entry as soon as possible to avoid market maker to eject you from your trade. A bad strategy would have been to put a larger stop, this is a leak a lot of people have and most of them are losing money doing so.
Thank you for your feedback @mhfcrypto, i mostly mind the main trend and the risk versus reward. But i could be wrong some of the time of course. market will decide.
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