"NEVER LET YOUR EMOTIONS GO INTO YOUR INVESTMENTS."
Let's wait for some retests. Coz, what if it's a false move, right?? (Tho unlikely coz we got a good at the breakout of this - 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. - 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) divergence - sloping down vs Price climbing up
- (Possible) No breakout above this range - Must have significant 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 - decreasing 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
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.
I'll open a long if it breaks upward. Tho, the case is still strong to open a short if it fails to break.