When I posted this entry I didn’t give a proper description on why or how this trade is a good one to take.
I have a suspicion the bottom might be in but if that’s not the case then I would still like to be involved next leg down, the how is the tricky part.
If we’re going to $24k then I think the lower high (the trade I just caught) is the best place to be short.
What if it goes long?
I have a plan for that too, I’m going to try and long the area between $31k-$30k.
If that “long” goes into profit I’ll move my stops to BE and ride the next leg up.
If however the “long” is stopped out, then the short I’m already holding should cover the loss and still walk away with profits.
I have done something like this before and posted it here, you should be able to find it in my old posts. I try to be as transparent as possible, I post everything including my losses. I give clear warnings and areas to watch out for.
If this current short is stopped out, I still don’t lose anything my stops are at BE, this is a risk free trade.
If you know what you’re doing and you’re nimble there’s decent profit to be made trading crypto.
That’s my plan to hedge this thing. I don’t really care where it goes, I just like making a profit.
I trade what I see.
I have a suspicion the bottom might be in but if that’s not the case then I would still like to be involved next leg down, the how is the tricky part.
If we’re going to $24k then I think the lower high (the trade I just caught) is the best place to be short.
What if it goes long?
I have a plan for that too, I’m going to try and long the area between $31k-$30k.
If that “long” goes into profit I’ll move my stops to BE and ride the next leg up.
If however the “long” is stopped out, then the short I’m already holding should cover the loss and still walk away with profits.
I have done something like this before and posted it here, you should be able to find it in my old posts. I try to be as transparent as possible, I post everything including my losses. I give clear warnings and areas to watch out for.
If this current short is stopped out, I still don’t lose anything my stops are at BE, this is a risk free trade.
If you know what you’re doing and you’re nimble there’s decent profit to be made trading crypto.
That’s my plan to hedge this thing. I don’t really care where it goes, I just like making a profit.
I trade what I see.
