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Crypto Just for Fun

Trade 5: Short ETHUSD @ $250.41 (2/25/20)

Bam. Just sayin’.

After losing twice on Long orders, I saw the writing on the wall (more specifically, the high-timeframe wall) and flipped into a short. It worked out.

Entry. Short 1 ETH at $250.41 with 5x leverage (market sell).

Once the bull pennant that had been invalidated, I reasoned that there would be a gap that needed filling… down another Fib level. I rode this one down conservatively, ultimately pulling the pin at $237.05 for a profit of $11.47, or over 4%. This put me back in the green for the day’s trading. And it felt good, too.

Epilogue. The price continued to dump for a time, all the way down into the $215 range. Again, being ahead in profit for the week, I busied myself with other things. After all, it was big game hunting that got me in trouble last time.

More on that later though.

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