Medium- / long-term short on tokenized gold, XAUT, we built up the position at $4,592.71. As we announced, this is on the break of the sustained uptrend on the 5-minute timeframe. The idea is that this is a "straw that will break the camel's back". The camel has already risen quite significantly in August as well—for a bounce.
The whole situation with this short, which we’ve been building since March, was already reminded and described in the previous post. So there isn’t much to add, other than deal details and the current situation.
Taking into account the uncertainty and the risk of further upside continuation, we entered with half of the amount that was allocated for the add-on. But even this increased the total position by 50%. The remainder we’ll add either in case of further growth and the threat of a breakdown of the downtrend, or if the oldest uptrend on the timeframe (by our indicator; currently it’s the 3-day uptrend) breaks. In other words, either for maneuvering the exit to get into profit from the position, or for increasing exposure if further decline of the asset is confirmed.
Current entry price — $4,684.79. Leverage 17x. Liquidation level — 5 142$ (due to additional liquidation, which may also go into the position if the end of the bounce is confirmed).
The whole situation with this short, which we’ve been building since March, was already reminded and described in the previous post. So there isn’t much to add, other than deal details and the current situation.
Taking into account the uncertainty and the risk of further upside continuation, we entered with half of the amount that was allocated for the add-on. But even this increased the total position by 50%. The remainder we’ll add either in case of further growth and the threat of a breakdown of the downtrend, or if the oldest uptrend on the timeframe (by our indicator; currently it’s the 3-day uptrend) breaks. In other words, either for maneuvering the exit to get into profit from the position, or for increasing exposure if further decline of the asset is confirmed.
Current entry price — $4,684.79. Leverage 17x. Liquidation level — 5 142$ (due to additional liquidation, which may also go into the position if the end of the bounce is confirmed).