已更新

sketch

Will we retest the previous bottom and will it bounce?

交易進行

For now I am aiming to build a modest short position, aiming at an average entry at 7700, sl 8250 and tp 6500. Everything could turn against me, because the inverse head and shoulders could be the new local bottom. I'm aiming short, because the sell volume was slightly higher then buy volume at the bottom.

There seems to be a lot of longs around this new bottom area. If these longs are squeezed, it could provide a lot of liquidity for big players, to place their longs even lower.

Imho the rundown from 8500 to 6900 was also a big long squeeze, so maybe another longs squeeze will not happen and everybody who placed their longs around 7500 and put their stop around 6800-6700 region is safe and I am shorting the bottom..... This is why I'm very cautious and only trading this with a modest position size.

註釋

註釋

Bigger scale trading strategy

註釋

Looking in hindsight: Missed out on my planned short big time, only got a small entry filled at 7450 if i recall it correct. Took profit on it way too early, at 7200. Don't regret it, didn't want to reenter around 7350 zone and chance of catching a bounce began to seem more appealing. Bottom was tested again, just like expected, stops at 6800-6700 taken out. Longed the 2nd bounce, after seeing more volume on the buyers side, my idea got confirmation and I'm confident we have a good chance to hit 8xxx. My next short entry targets are still around 8100. Entry at 6544, took first profit at 7200, second profit at 7600 and added onto long at 7250. new entry is 6850 with sl at 6836 and 15% tp at 7800/60% tp at 8100 and 25% tp at 8320