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.
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Updated SL. Dotted lines indicate orders.Nota
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.
Nota
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.
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.