short term H&S has formed.

20 mar 2020

Interesting position. I didnt really think we would go up here yet.
Could be a false breakout. As we still have the bad world economic situation in front of and USA still havent really figured out what to do. Except to never ever stop printing money.

So far price was rejected at resistance levels.

20 mar 2020

Zlecenie aktywne

entered short @ 137$
SL @ 144$.

target 1: 128$ - move SL 136$
Target 2: 120$ - move SL to 128$ and wait and see what market want.

20 mar 2020

Komentarz

in hindsight I should have waited for short entry below 133$

20 mar 2020

Transakcja zakończona: osiągnięto poziom stop

lesson learned: Drink coffee before trading. Would been easily avoided by placing a sell-stop at 133$

21 mar 2020

Komentarz

So it bounced exactly on the trendline, more or less. (exactly on BTCUSD).

Not much left for me to do now. 4 consecutive losses. 2 where I was wrong, plain and simple. third partly wrong/right. Fourth (this one) was wrong, and it wouldnt be a loss if I weren't greedy and entered at market. Instead I should have entered below neckline of the H&s at 133$.

Plan now: Just wait to short at 190$ levels, or buy some at 80$ levels or below. Still think it can go down to 50$ as the world is still in a quaranteen.