Short Day Trade 5 Minute Scalp on Bitcoin Today in BIG Profit from 25x Leverage

Short Day Trade 5 Minute Scalp on Bitcoin Today in BIG Profit from 25x Leverage

Here's the entry and strategy: We were in a downtrend from yesterday on the 5 minute chart, and the linear regression trend channel was pointed down with the linear regression lines pointed down signalling more downside movement likely. We were below both the 200 period exponential moving average and the 200 period hull moving average, signalling a downtrend and to only look at short trades to the downside. Then, we printing 2 red supertrend signals, circled in white here, which is an entry confirmation for a short. We also had just printed a red dot on WaveTrend above the 0 line, circled in white, signalling the pullback ending and to look for a short. Finally, the squeeze momentum shifted to dark green (white line drawn to show this) with downside movement and the grey plus signs changed to yellow indicating a squeeze to a possible breakout forming. All things confirmed, so I entered a short position on 25x leverage.

My stop loss was predetermined at a few ticks above the recent swing high levels, and my position size was predetermined with my risk:reward ratio. After entering, I immediately placed a limit order to exit 50% of my position at the profit target of the closes of the recent swing low. After take profit 1, I moved my stop loss to entry and then exited another 25% in profit on the next swing down. Then, I moved my stop loss further into profit and left a runner, which eventually exited in the final take profit 3.

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