LUNA//How to Short A Pump

3 Ağu 2021

Price is currently retesting a historically strong S/R zone after being quite extended. Detailed analysis on why this will be a good short in video.

3 Ağu 2021

Not

Updated SL. Dotted lines indicate orders.

4 Ağu 2021

Not

Was able to snag 25% of a +30% profit mark @ 0.38FIB on the move up, however price has moved against me and I am currently in a drawdown.

What I should have done was let price hit my stop loss at my break even avg. entry and re-enter a short higher or wait for LUNA to lose strength, however I let it run assuming that this strong resistance should hold me. This was the incorrect trading decision - as the first rule in trading should be to always protect against downside risk.

There is currently a pull back on a 15min W pattern that I am watching closely trailing my stop lower as price loses strength. I still expect LUNA to drop, however I will cut my losses if price makes it way higher again.

5 Ağu 2021

Not

Currently -11% with a forming descending wedge. Seeing that LUNA still has some strength and the general market at large, will shave 75% of the order just incase we get a massive break out with a stop at 14.8.