Type: Short/Bybit
Leverage: 10x-20x
Position : 2%
R/R : 4.7
🟢 Entry 0.1710-0.1735
*Spread entries across zone*
TP areas
1) 0.1640
2) 0.1565
3) 0.1505
*any remaining position to be closed based on chart*
❌ SL 0.177
I am trying to catch a short on Looks but at this moment, with OI (Open interest) increasing and funding rate taking a deep dive, seems most of the OI is in shorts, and I feel there is a chance they might get squeezed. Our short is likely to get activated if that squeeze happens. If we don't get the squeeze, there is no loss as this trade will not get active. The only risk is a big manipulator pumping it to 0.2 and hence the SL at an 3% unlevered loss to protect capital.
Leverage: 10x-20x
Position : 2%
R/R : 4.7
🟢 Entry 0.1710-0.1735
*Spread entries across zone*
TP areas
1) 0.1640
2) 0.1565
3) 0.1505
*any remaining position to be closed based on chart*
❌ SL 0.177
I am trying to catch a short on Looks but at this moment, with OI (Open interest) increasing and funding rate taking a deep dive, seems most of the OI is in shorts, and I feel there is a chance they might get squeezed. Our short is likely to get activated if that squeeze happens. If we don't get the squeeze, there is no loss as this trade will not get active. The only risk is a big manipulator pumping it to 0.2 and hence the SL at an 3% unlevered loss to protect capital.