rising wedge reversal pattern
Updated
kraken acct $1549
10 short at 216.92
closed below the horizontal support of what appears to be a bull flag
not a very large size at the moment....
This isnt the best setup for a short...
I Took trade for a few reason.
1) 2 hourly candles closed below bottom of flag support ( I didnt see the breakdown so I added once we got back to bottom and added on the rejection (support became resistance))
2) we have had what I like to call a slow fade which for the most part ends with a rapid and substantial drop (hard to trade if your not early)
3) the market is looking a little top heavy ( posted about the heaviness of market last night when I closed my ltc trade at the top) or due for a pullback
4) we have a bearish divergence on rsi with rsi making lower high and price making higher high
5) vol divergence as well only on coinbase though
10 short at 216.92
closed below the horizontal support of what appears to be a bull flag
not a very large size at the moment....
This isnt the best setup for a short...
I Took trade for a few reason.
1) 2 hourly candles closed below bottom of flag support ( I didnt see the breakdown so I added once we got back to bottom and added on the rejection (support became resistance))
2) we have had what I like to call a slow fade which for the most part ends with a rapid and substantial drop (hard to trade if your not early)
3) the market is looking a little top heavy ( posted about the heaviness of market last night when I closed my ltc trade at the top) or due for a pullback
4) we have a bearish divergence on rsi with rsi making lower high and price making higher high
5) vol divergence as well only on coinbase though
Trade active
cleared up the chart a bit it was a little confusing
Trade active
short 5 shares at 217.17
short 15 shares at about 217 flat
Trade active
added 5 shares short at 216.76
Trade active
Trade active
closed 2.5 shares 212.82
still have 8.1 shares
Trade closed: target reached
closed last 8.1 shares at 213.60
Note
acct increased by 3.1%profit $48.15
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