ETP correction inbound?

18 Ağu 2018

Please note that this is in no way financial advice, I would actually appreciate criticism if something here is incorrect.

From my perspective, ETPUSD is bound for a correction, as 5 waves have been complete.

Also, There are currently 15m Longs vs 795k shorts on Bitfinex.

I will be accumulate a short around $3.25-$3.35, with a stop loss at around $3.42 (3.20% risk).

TP will start at the golden pocket area, around $2.65, which should yield an R:R of 6.33/20.15% gain.

Another risk associated with this idea, is the direction that BTC will go.

18 Ağu 2018

İşlem aktif

Orders filled.

20 Ağu 2018

Not

All going ok thus far. Moved stop loss to 3.12

20 Ağu 2018

Not

As you can see, EMA 55 is acting as a resistant on a 1h TF.

20 Ağu 2018

Not

A descending triangle has also formed on a 1H TF, indicating a downtrend. Let's see how long it will take for it to brake down.

22 Ağu 2018

İşlem kapandı: durdurma seviyesi

Ive moved my stoploss a bit lower, to 3.08 due to resistances formed, however, they were hit with today's flash pump, when the price hit 3.09 and is now trending at 2.92 (nothing suspecious there)...

22 Ağu 2018

İşlem kapandı: hedefe ulaştı

2.66 reached today, just 0.01 shy of initial target. Unfortunately I got squeezed out today... something to take away for future trades.