I've Been waiting for a time to short this and it seems like now the panic selling is in place. A bearish flag formed look for a further retracement. Just entered an order on a small futures position 25x short. Watching closely. On bitmex ETHM17 --- watching bitcoin closesly as well if it falls harder I will exit this trade. I shorted at .1180 50 contracts. Will update my trades as it plays out
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I just bought some long btcxbt on bitmex at 2500 to hedge to the eth/btc positon -- should be a quick scalp
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got out of btcxbt long trade at 2526 for a nice quick scalp going to add it to by eth/btc short poisition here momentarily will let you know the price when i do
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added 7 more ethm17 short at .11704
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need this trendline to hold or we might have a quick bull flag --- keeping my manual stop loss close
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manual stop loss out at .1175
going to do a small long position here until market shows other wise will let you know entry
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20 ethm17 long at .1177 for quick scalp
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exi8ted at .1150 going to reenter my initial trade here things are starting to move back in the direction i was inticipating. lost a a about .01 on the scalp attempt
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short 20 ethm17 at .1175 -- should be holding this trade longer term. If im goign to scalp its going to be on the btc from now on and hold this
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believe we fill this triangle and drop back down to lows --- keep an eye on bitcoin movements . When bitcoin runs i like to add some long position to hedge against them both going up with a big green candle as eth usually goes up at a higher percentage so that is a slight hedge even tho its just more leverage on this trade
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Added 10 more short ethm17 at .11880
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sticking in there with this trade I believe this is probably a 2-3 day hold unless we see a RAPID 10% move but i think we slowly trade downwards
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one more view here
交易結束：目標達成
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Closed out 30 ethm17 contracts at .1120 (had 25x leverage on those) made.
turned .25 btc into .75 btc with this trade hope everyone else followed!
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current view
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I think we retest the 250ish area I will be shorting on any green candle here and taking off my short as soon as it approaches $250 ---- Look for either a big bounce or more panic selling there. I try not to have a trade on in those scenarios. I'd rather trade the 10% in between and not try to pick a bottom
@btcana, haha thanks bro. Hopefully you followed this little trade here. I have been out of the game for 6 months but was just waiting for the right time for this thing to retrace. My grandma asked me about it so i had to drop everything and short
tonezzz
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Nice! Entry around 280ish would ya say?
shayk47
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@tonezzz, yes depends on the price action --- trying not to fight the trend here wait till a double bottom is approaching and try to get the bounce but stop loss right beneath it
tonezzz
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@WolfofCoinStreet, Well keep an eye, thanks!
shayk47
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@tonezzz, I just trade this with my play money 5k max bets --- most my money is in stocks as I was a stock broker for 8 years --- I have been following crypto since btc was at $10 I think ETH is a great long term hold but i would not be buying now if you are short term investor. I think we retest that low sometime in the next 24 hours if it holds then its probably a near term support. I will probably be shorting it again here on any big green candle. It had a nice bounce but i think we retest those numbers and ill trade that little pull back with leverage. My goal is to add more BTC to my bag. I have about 20 right now had 100 at my highest but had to sell some for fiat. I look for these corrections to try to add more to my wallet by leveraging 25x with .25-1btc max. This next short I will probably be putting .75 as I am fairly confident based on the charts that we see another little dip here
vessovit
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i see ~280 also as a bottom, success with that trade bro.