As I mentioned in my LTC posts, BTC is king and ALTs follow the leader (in a MACRO view). BCH has validated a very clear H&S formation with a clear break of the neck line. Opened a SHORT with the 4HR close below the H&S neck line at $293 and will look to add to my SHORT with a bounce back up to previous support range which should now act as resistance between $297-307. SL set to $313. Looking for initial TP around $221.
Trade active:
With yesterday being an INSIDE BAR and Doji candle, anticipating slow down of this dump in the short term. Moved SL to $290 allowing me to still take some profit home if we get a wick up.
Trade active:
TP hit at $213 and $176
Trade active:
No TP targets left. Basically taking profits at optimal levels. Took profits at $150. 25% of original SHORT remains open.
Trade closed manually:
Uncertainty in the market. Massive profits hang in the balance. Closed position. Wait and see.