🔥 Gmmm brothers! Early this morning let’s update a few trades you’re holding together
1. $LA - Short entry after DCA at $0.0679
Update on the LA trade: This morning the price bounced back because funding reversed overnight. But now there are signs it may drop soon because the price rose and FD expanded wider.
At the $0.07 price level, the loss by price is nearly $600, and funding is nearly $200. The trade has already maxed out VOL, so I won’t add any more
Plan: hold the position until the profit area of around 2-3% before leverage ($0.063 - $0.065), then I’ll exit early. For now, if it crashes, we’ll probably have to wait until after 9:30 when the first downside point for LA today appears
2. $BTC - Still holding SHORT
For BTC, the macro picture is extremely bad as the FED’s rate hike probability has risen to 65% in the middle of this month. So the brothers’ plan remains the same: wait for the drop from now until mid-month to unload
Expectation: there will be a 72-74 range where we can get off the train
1. $LA - Short entry after DCA at $0.0679
Update on the LA trade: This morning the price bounced back because funding reversed overnight. But now there are signs it may drop soon because the price rose and FD expanded wider.
At the $0.07 price level, the loss by price is nearly $600, and funding is nearly $200. The trade has already maxed out VOL, so I won’t add any more
Plan: hold the position until the profit area of around 2-3% before leverage ($0.063 - $0.065), then I’ll exit early. For now, if it crashes, we’ll probably have to wait until after 9:30 when the first downside point for LA today appears
2. $BTC - Still holding SHORT
For BTC, the macro picture is extremely bad as the FED’s rate hike probability has risen to 65% in the middle of this month. So the brothers’ plan remains the same: wait for the drop from now until mid-month to unload
Expectation: there will be a 72-74 range where we can get off the train
