DON'T BE BULLISH JUST YET... NOOB :)

NONONONONONOOOOOOO NOT YET. DON'T BE EXCITED. CALM YO HAIRY ASS TITIES

"NEVER LET YOUR EMOTIONS GO INTO YOUR INVESTMENTS."
- Me

Let's wait for some retests. Coz, what if it's a false move, right?? (Tho unlikely coz we got a good volume at the breakout of this falling wedge - but there's still no need to rush. There may be a better position at play)
We're going to come to retest these levels:

• Resistance - 8450 to 8700 range
  
• Support - 7900 ; 7600 ; 7450
  

Don't really know what to expect LOL. Just ride the wave. Falling wedge - reversing to an uptrend. But for how long?
I'd watch out for possible reversal or continuation patterns at the major levels

• 9500 - 10000
  
• 10900 - 11600
  

Tho for the short term, here's my plan:

Looking for a short term SHORT setup at 8450 - 8700 range. POSSIBLE reasons would be:

• (Possible) Bearish divergence - RSI sloping down vs Price climbing up
  
• (Possible) No breakout above this range - Must have significant volume and close at a good distance
  
• (Possible) Reversal pattern occuring at this area
  

In execution, here's what I'll be in:

• Wait for at least 3 closes. Watch for volume - decreasing volume while price going up makes the short a stronger case
  
• Hedged at 2:1 ratio -- Hedge will be executed midway thru the first support
  
• Stoploss at 8820
  
• Position at 4x Leverage at 30% of my balance (Main position + Hedge Position)
  
• No scaling in
  
• Scaling out starts at 7900 (30%), then 7600 (50% & exit Hedge) and 7450 (20%).
  

Good luck to us~ <3

Bình luận:

Ascending Triangle appearing in the 4HR time frame.

7900 support looks good - strong rejection at the first retest, and no closes within the support area.

We might see price go up further than 8500 because of this consolidation. Let's see.

Bình luận:

Anyway, I'm preparing my move depending on how price reacts at 8400 - 8700 range.

I'll open a long if it breaks upward. Tho, the case is still strong to open a short if it fails to break.