Swing short view H12
Currently I am in a swing short that was posted initially on twitter. Reposting for consistency
“Second attempt to swing short here – 20% now. I have a generous SL (I think). I would be very happy if I could get some fills in the 9100-9150 area. Stoked on managing this one. Disclaimer: starting with second half of 2019 I royally messed up all my HTF trades (all were longs)”
Over night price spike well into supply and I wasn’t all that confident that I will not be stopped before the dump will come.
“Feeling like in the big short rn, “why is it not falling?” Will not add to my swing position. Seems like the better alternative was longing into resistance lol.”
A couple of hours later price was appearing weak on LTF so I decided to add to my short another 20%:
“Added another 20% at 9055 the rest I will only add after clear rejection like an SFP of the current swing high on the H1 H4 preferably or after breakdown of the 8900 level. otherwise this will remain may max position until stop out”
“Seems so obvious in hindsight doesn’t it… Took half of out of a 40% position and I will add some size on a bearish retest 8700-8900 area. Will now let this settle before doing anything else.”
Price seems to have established a range on the LTF and I don’t want to bet where the next move is going to be so I closed the position. Trade stats: Average entry 9001 Average closing 8658 Hard Stop was 9265 and tentative TP was 8528 but the initial plan was to hold it for a bit longer than I did. Realized R 1.3
Bitcoin Trading Journal 