Looking to correct below 9500-9300 or lower > break down from small rising wedge 9520-40 averaged in. Position split into two trailing stops, will modify deltas as needed. Using XBT via Bitmex. Bulls will defend 9500 because that's how bulls think, in round "magic" numbers. Successful short therefore relies on 9500 being broken and taken and held by shorts. Cautious traders might want to wait for bullish capitulation below 9500 if it happens. Fairly tight stops advised.
Trade closed: stop reached
Comment:
Just goes to show, even if your TA is good, if you don't manage your stops, you will leave too much profit on the table. From 9528 > 1st stop 40% taken 9511 > 2nd stop 9467 > should have not messed with the deltas once the trade went in my favour. Better profit than loss though.