So we had some interesting price action recently. This is my opinion on what I assume as an anomaly from possibly rogue algorithm or liquidation of margin long likely as a result of a naughty bot. People like to blame whales and manipulation, but there are countermeasures in place that often cause people who try to manipulate in order to force liquidation of counterparty traders to benefit their own interest, wind up in bad positions
themselves, while the big money algos are quick to correct these abnormalities rather quickly. These result in whipsaw over extension and like seen on the 1 hour chart above, institutional algos keep candle body closes in check pattern structures. You can spot these with bands or moving average indicators often, combined with pattern analysis, be able to sense when market misbehaves. My prior targets for long scalp were 9600, which were scalps flipped short adding to my 10200 short but in isolated margin to retain upper average entry on the original. Layered rebate TPs down to fib with OCO buy stop sell stop limit with trailing if touched chase, low lev long I already had down at the fib, added to ORIGINAL short on cross margin to hedge short. Upnl from cross short can be utilized to create larger positions with extended to no liquidity price at all.
Bitcoin still under its trendline resistance, corrective structure continuation is expected. I could be wrong guess I'll find out pretty soon.
themselves, while the big money algos are quick to correct these abnormalities rather quickly. These result in whipsaw over extension and like seen on the 1 hour chart above, institutional algos keep candle body closes in check pattern structures. You can spot these with bands or moving average indicators often, combined with pattern analysis, be able to sense when market misbehaves. My prior targets for long scalp were 9600, which were scalps flipped short adding to my 10200 short but in isolated margin to retain upper average entry on the original. Layered rebate TPs down to fib with OCO buy stop sell stop limit with trailing if touched chase, low lev long I already had down at the fib, added to ORIGINAL short on cross margin to hedge short. Upnl from cross short can be utilized to create larger positions with extended to no liquidity price at all.
Bitcoin still under its trendline resistance, corrective structure continuation is expected. I could be wrong guess I'll find out pretty soon.
Note
If anyone is interested in learning my hedging strategy method I currently use, feel free to private message me here on tradingview for more detailed information.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.