Friday is "triple witching day" and all hell could break loose right after that... I mean my entire trading account could more than triple, if my short from 25030 reaches the target of 21800 within the next weeks. My risk is only 110P. The risk reward ratio is the best I ever had in my entire life:
25030 - 21800 = 3230
3230 / 110 = 29.36
My risk reward ratio for this trade is 29.36 : 1 That is insane! The chance to earn nearly 30 times my initial risk.
And if I see the expected drop on friday or monday, I will double up this trade ;-)
BTW: BTC is dropping like predicted yesterday.
UPDATE: Because of the current strong rise, I took profit of 163P and exited this trade a few minutes ago. I will use theese earnings to have a bigger SL after the reentry. Planning to reentry anywhere between 25060 and 25360 when I see a bearish reversal candle.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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MUST READ!
DISCLAIMER: This post / analysis serves general information purposes only. I am not, and never will be a financial adviser. The material in this post does not constitute any trading advice whatsoever. This is just the way I see the charts and what my trading ideas (from my personal experiences) are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
If you make any trades or investments after reading this post, it is completely in your own responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept to never hold me accountable for any of your losses.
Please consider leaving a comment, like or resteem, if this post entertained you or helped you see things differently...
Have a nice day :-)
Good chance to but in!!
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Looks a little like bitcoin chart 😅😭
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Please visit my blog @ew-and-patterns
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Your risks seems edgy lol I can't really take the heat I guess the risker the merrier it is.
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This great post i appreciate your blog thanks for sharing this life....
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wow very nice post
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I am very surprised that you exited the DJI trade. It broke the Short-term moving averages, there was a bit of buying but nothing to really make you uncomfortable. However great trade ! Congrats on the profit :P
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Mantab @ew-and-patterns,ikuti blog saya @balianassar
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Great chart and analysis. Question... this means you're shorting the Dow Jones obviously... can you let me know what platform you do this on? I want to look into this and want to get familiar with the platform you use. Thanks!
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I am using a CFD broker and the MT4 software to do this. I am not 100% sure, but I know that there a lot of countries where "contracts for difference" are prohibited by law like for example USA. But not so in germany.
I have only 2 Points spread and can open and close every position within a split second. No lag, no delay.
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No more bitcoin updates?lol
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Why are you lying? You did not resteem it. You never resteemed a blog post before. This is not gonna get you an upvote.
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