ETHBTC short (D1)

1 thg 10, 2020

Consolidation breakout: lower low below support (now turned to resistance imo)
Decent R/R
Cosolidation = H&S in this case. But me personnaly don't like such an obvious cliche. Better call it consolidation simply.

19 thg 10, 2020

Đã hủy lệnh

Decided to cancel the trade (close manually) at break-even.
Why?

1) After a first successful attempt to print new lower lows (.031) on 24, September I don't see any significant pressure during 3 consecutive weeks. Momentum is lost.
2) Failure to break 0.031
3) Price is in triangular consolidation for 3 weeks.

Better to stay on the sidelines and wait for a directional breakout:

a) If the price breaks down (wide spread, significant volume), then I'll short it with a target of 0.027
b) in case of break-up the market will present a good opportunity to long ETH to 0.037-0.038, and probably a previous high will be tested.

31 thg 10, 2020

Ghi chú

Pretty easy to have hindsight but don't regret closing the trade.
Proly will see nice entry level from R/R viewpoint.

Eventually, Trading boils down to the ability to view clearly right setups from R/R perspective and a probability direction. And it doesn't matter are you right or wrong in each trade. The only thing that matters is your winrate and profit/loss ratio.

p.s. loss = always constant