Anticipating a bounce around in a channel created by the supply zone during the big drop. I am discounting the giant wick on the 13th march because its a bitmex thing, it did nothappen on any other exchange. Other exchanges have a clean touch on the supply zone and fell back into the channel. Short term trade and I am anticipating only 1 of my entries to be hit.
If there is a grind up through the zone, i will cancel remaining orders and exit. If there is a fast movement into the supply zone and quickly fall, I will leave my position alone. Monitoring closely if it falls back down, because being a relatively small channel trade I have no anticipation of price moving very far down, most of the time I will be already 80% out at the midway point.
If there is a grind up through the zone, i will cancel remaining orders and exit. If there is a fast movement into the supply zone and quickly fall, I will leave my position alone. Monitoring closely if it falls back down, because being a relatively small channel trade I have no anticipation of price moving very far down, most of the time I will be already 80% out at the midway point.
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Update: exited for 8% on 5x after price started grinding through on the 4hr candle that closed inside the zone. I’ll take preserving capital over hitting a stop loss.
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But Profit is profit, I’ll work on my psychology more.