reasons for me adding more shorts:
After the great buy trades placed, the bulls finally hit our monthly trendline and started losing momentum which then concluded the bull run and triggered my shorts.
Looking at the pair, I have decided to add a few more shorts now because of the following reasons:
1. H4, we have had a squeeze play breakout (sellers funneled price down and finally broke our support area)
2. market has come back for a retest and the bears are now gaining momentum
If we close above our minor trendline my analysis will be invalid
After the great buy trades placed, the bulls finally hit our monthly trendline and started losing momentum which then concluded the bull run and triggered my shorts.
Looking at the pair, I have decided to add a few more shorts now because of the following reasons:
1. H4, we have had a squeeze play breakout (sellers funneled price down and finally broke our support area)
2. market has come back for a retest and the bears are now gaining momentum
If we close above our minor trendline my analysis will be invalid