I waited to reenter and SELL around 8000-8100 but I didn't see a strong pullback, so I decided not to do it at all cost.
I will wait for it until I see a 8400$ retest which was a support after a strong bullish momentum that was broken, but never tested.
Also, when we see a pullback of 61.8% there is a big chance it will go to 78.6% where we can see 8400$ zone.
I think after 9200$ bears started taking control of the market and soon we'll be seeing a market correction to 7000$ and 6000$ where we can see Fibonacci retracements of 61.8% and 78.6% which are proven to work just fine if used correctly. (At least for me)
Automated sell @8450 $
Stop Loss @8550$
Take profit: 7500, 7000, 6000
If it hits my stop loss, I will just reenter with a better price.
If it exceeds 9200$ I'll watch the situation and maybe I'll BUY up to 10000$.
I will wait for it until I see a 8400$ retest which was a support after a strong bullish momentum that was broken, but never tested.
Also, when we see a pullback of 61.8% there is a big chance it will go to 78.6% where we can see 8400$ zone.
I think after 9200$ bears started taking control of the market and soon we'll be seeing a market correction to 7000$ and 6000$ where we can see Fibonacci retracements of 61.8% and 78.6% which are proven to work just fine if used correctly. (At least for me)
Automated sell @8450 $
Stop Loss @8550$
Take profit: 7500, 7000, 6000
If it hits my stop loss, I will just reenter with a better price.
If it exceeds 9200$ I'll watch the situation and maybe I'll BUY up to 10000$.
Comment:
Price spiked to 8050$ (premeditated zone) and now it's moving to my initial target of 8300-8500 where I'll be catching SHORT to 7000 and then 6000.
Comment:
Price touched 8300$ but I think it will continue to 8400$ since we can see a small breakout from Resistance and a retest around 8230$.
When I see 8400$ I'll start considering buying SELL contracts, till then I am still holding on my BUY contracts from 8100$. I am watching the charts all the time now, since the pullback can also happen from 8300$ zone where we are now.
In this kind of situation, when my bias is bearish but the price is still little bit bullish, I get into trades but always keep my stop loss tight, ideally I put them in breakeven or small profits so I can invest more when the time is right.
When I see 8400$ I'll start considering buying SELL contracts, till then I am still holding on my BUY contracts from 8100$. I am watching the charts all the time now, since the pullback can also happen from 8300$ zone where we are now.
In this kind of situation, when my bias is bearish but the price is still little bit bullish, I get into trades but always keep my stop loss tight, ideally I put them in breakeven or small profits so I can invest more when the time is right.