What's happening?
As you can see that, after 2 days of sideways, that downtrend resistance is here.
If we break that, we'll be heading to 3640 or higher for now.
If you are in a SHORT, I would suggest close it for now or chase it with a Stop Loss.
This doesn't mean that trend has changed.
We are still very much in a downtrend.
But for the time being, over a short term, XBT might break out from this resistance.
At the same time there is a good chance of it being rejected from it. Like it has last 3-4 times.
So be careful here.
If you wanna play it safe, I would suggest, trade the break-out.
If you wanna play it risky, LONG here and hope for a break-out to 3800.
How am I trading this?
I've closed my SHORT after taking profits multiple times during previous drops to 3320 and 3260
Trade 1
Keeping 3520 SHORT order,
Stagger 1 -> 3540
SL at 3560 now.
Trade 2
Currently in a LONG from 3432 on my Scalp Trading Account.
Main account has SHORT orders as per Trade 1
Trade 3
SHORT orders at 3640, 3740 and 3860 followed by SL at 3890
What are my indicators saying?
FOMO 1hr, 2hr, 4hr and HTL are green. Indicating an uptrend.
FOMO Momentum Scalper is indicating increasing buy momentum.
As you can see that, after 2 days of sideways, that downtrend resistance is here.
If we break that, we'll be heading to 3640 or higher for now.
If you are in a SHORT, I would suggest close it for now or chase it with a Stop Loss.
This doesn't mean that trend has changed.
We are still very much in a downtrend.
But for the time being, over a short term, XBT might break out from this resistance.
At the same time there is a good chance of it being rejected from it. Like it has last 3-4 times.
So be careful here.
If you wanna play it safe, I would suggest, trade the break-out.
If you wanna play it risky, LONG here and hope for a break-out to 3800.
How am I trading this?
I've closed my SHORT after taking profits multiple times during previous drops to 3320 and 3260
Trade 1
Keeping 3520 SHORT order,
Stagger 1 -> 3540
SL at 3560 now.
Trade 2
Currently in a LONG from 3432 on my Scalp Trading Account.
Main account has SHORT orders as per Trade 1
Trade 3
SHORT orders at 3640, 3740 and 3860 followed by SL at 3890
What are my indicators saying?
FOMO 1hr, 2hr, 4hr and HTL are green. Indicating an uptrend.
FOMO Momentum Scalper is indicating increasing buy momentum.
交易結束：目標達成:
Closed the LONG Scalp
Can call it double top.
I'm SHORT here on my Scalp Account at 3495.
Got more SHORT orders at 3520 and 3535 with SL at 3550
Main Trading Account got a SHORT entry of 3535