SFP Short - Not financial advise
Updated
There was a large short liquidation trigger at the 0.5245 level which already occured. I believe that now the price will reverse and go down first to 0.465 and liquidate leverage long positions. Depending on the reaction at this level the price can drop much lower to 0.4355 and potentially further.
I have short entry at 0.5195 that I already entered with stop loss at 0.5275
TP 1 - 20% of my position at 0.4651 (first long liquidation level of interest)
TP 2 - 40% of my positon at 0.4355
Letting the remainder run with a moving stop loss into profit, seeing if it can break down below the weekly lows and trend under the 0.39 level
I have short entry at 0.5195 that I already entered with stop loss at 0.5275
TP 1 - 20% of my position at 0.4651 (first long liquidation level of interest)
TP 2 - 40% of my positon at 0.4355
Letting the remainder run with a moving stop loss into profit, seeing if it can break down below the weekly lows and trend under the 0.39 level
Note
I had moved my stop loss to 0.5299 to give more breathing room and sorry if anyone got stopped out at 0.5275. It wicked up and is ranging here. Looks like it will either pump to liquidate the newly added leverage shorts or will wick up again and then trace down. UK session just began so its important to watch this closely.
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