Sorry this might be too late... This is a trade based on where liquidation will occur.... It cleared below and should swing high to clear above. This was rushed and not super accurate as far as where things are at. It wouldn't let me publish at a lower resolution that shows all the liquidation levels. It also could continue down and for the last of the lower which will stop me out but I see the liquidity above more attractive. Sorry for the rough publish but had no real time to prepare it. My Entry was 21555 and SL set below where I drew it. Also Trading View has terrible charts for viewing this. I use a third party tool that I can't port in. THIS IS HIGH RISH TRADE! Catching a falling knife based on where the market should want to go. Could play it safe and wait for proper entry but in these types moves there usually isn't time. It could go much higher or 23000 if not enough liquidations occur.,
-NFA
-NFA
Trade active:
Sorry I rushed and messed up entry on the chart. I listed my entry above. This all came together too quick as I was watching the different liquidations level on various exchanges. This only covers one and at this time frame doesn't show the massive amount between. My Entry was 21555 SL was set below last liquidation I saw on here. Just should see a large increase in volume shortly and we are off. If not chances are it will get stopped.
Comment:
I still believe this trade to be valid. As I stated I set my stop loss lower below 100x liquidations levels that cannot be seen do to limitations of TV. However, there have been a lot of high leveraged positions opened above and below so it will most certainly make for an interesting show. I am not using leverage so I am holding this position as I believe it can reach as high as 2500 or so in a longer time period then I have here of course.
Trade closed: stop reached:
Went for the new high leverage liquidity created below first.. Happens often on trades like this. Still we see where it went after, Could've used a loose SL and been a good trade.