I hope you've all been doing good and having an amazing week alone or with your loved ones. Markets have been quite choppy this week but have offered great opportunities to perfect your systems. Personally 7/7 for this week of trading and currently in a LINK short to end the week.
The current market conditions are quite indecisive and yet offer a great environment to improve and gain even more CONFIDENCE and UNDERSTANDING of YOUR system, ranges and liquidity runs. All that aside here is a quick idea for a LINK short heading into the weekend.
A big run up to the current mid range (8.085$) with high of range at 9.736$. Lows remain sitting around 5.522$. For the time being we have failed to break higher.
Entered two positions for an avg entry of around 8.270 yesterday night.
Took some partials off and looking to add to my short IF we break and hold below 8.080$.
IF BTC fails to hold 29.8K expect LINK to drop towards 7.700$-7.550$
Trade currently at BE (breakeven) and tape reading.
Entry (aggressive): market / Entry (conservative): IF we break and hold below 8.080$
SL: above 8.360$
TP: 7.700$
TP 7.550$
Stay safe and never risk more than 1-5% of your capital per trade. The analysis is merely a price action analysis and does not constitute financial advice in any form.
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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.
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.