AXS/USDT short idea.
Please check out my BTC idea after this and let me know your thoughts.
I posted this a couple of days ago as private, and I am only noticing now.
I don't recommend shorting AXS because ill likely be saying HONEY ITS GONE, but there are some clear signs. However, nothing is inevitable, and please proceed with caution when shorting low cap cryptos.
Firstly, the Red arrows show the best time to cut your longs, and the green arrows display the best time to close your short positions. These arrows suggest a possible change in trends. DAILY, the MACD shows a strong uptrend (wait for a MACD cross highlighted red is the safer play). The BB%B shows the bands have widened too much (pay attention to BB%B red highlighted area). Usually, a move to the downside associates after the BB widens (the upper band is high, the lower band is low, shot out to John Bollinger). We can expect a correction below the middle band, which acts as the SMA 20. Support can form before reaching the target (maybe reconsider the position if support is strong). Play safe, take profits on the way if the opportunity presents itself. Leveraged traders should use stricter stops that fit their scenario (or wait for a better entry) and raise their stops for profit if possible. Stay wary of the daily close as we shouldn't trust it because it doesn't have any emotions.
Please leave a like, drop a follow and check out my other content if you enjoy this.
Stay positive, and have fun, peeps. I hope you gain all the riches in Valhalla.
good luck, best wishes,
HONEYITSGONE
Please check out my BTC idea after this and let me know your thoughts.
I posted this a couple of days ago as private, and I am only noticing now.
I don't recommend shorting AXS because ill likely be saying HONEY ITS GONE, but there are some clear signs. However, nothing is inevitable, and please proceed with caution when shorting low cap cryptos.
Firstly, the Red arrows show the best time to cut your longs, and the green arrows display the best time to close your short positions. These arrows suggest a possible change in trends. DAILY, the MACD shows a strong uptrend (wait for a MACD cross highlighted red is the safer play). The BB%B shows the bands have widened too much (pay attention to BB%B red highlighted area). Usually, a move to the downside associates after the BB widens (the upper band is high, the lower band is low, shot out to John Bollinger). We can expect a correction below the middle band, which acts as the SMA 20. Support can form before reaching the target (maybe reconsider the position if support is strong). Play safe, take profits on the way if the opportunity presents itself. Leveraged traders should use stricter stops that fit their scenario (or wait for a better entry) and raise their stops for profit if possible. Stay wary of the daily close as we shouldn't trust it because it doesn't have any emotions.
Please leave a like, drop a follow and check out my other content if you enjoy this.
Stay positive, and have fun, peeps. I hope you gain all the riches in Valhalla.
good luck, best wishes,
HONEYITSGONE
Comment:
Highlighted blue*
Comment:
Nothing has changed, but we consolidated within a triangle on the LTF(4hr) but broke out. One can also see that $63.26 acts as solid support. Only time will reveal the truth.
Trade closed: stop reached:
This was a miscalculation on my part. Unfortunately, the stop was triggered. I was wrong. I am currently looking for a long scalp entry before the daily close, then I will consider shorting this bad boy.
Comment:
Potential scalp/ long on the 1 min TF (can't post 1 min charts sucks for me ) :(
Took a Long @ $70.80
Stop loss @ $70.50
Target @ $73.40
I might raise my stop in profit as I am leveraged.
Took a Long @ $70.80
Stop loss @ $70.50
Target @ $73.40
I might raise my stop in profit as I am leveraged.
Comment:
Stopped @ $72.00 looking for a new entry
