The money I made from algo this time was from trapped holders.
Five hours ago, I called for shorting at 0.14u in the plaza. I made it very clear at the time: after a rise of nearly 20%, it had just touched a lot of people’s cost basis. Having been trapped for months and finally getting back to breakeven, their first reaction was to sell.
Now it’s 0.118. The target I wrote was 0.128, and it broke through that in the afternoon. It’s still sliding down now, down more than 15% in a day. The stop loss at 0.145 didn’t even come close.
That hourly candle had a very long upper wick, and it shot up to 0.1435 without being able to hold above it. What was hanging up there were all breakeven-sell orders; one glance told me this rally couldn’t be sustained. The breakout was real, the pullback confirmation was real, and I just took this part of the move.
The brothers who followed the short are all in profit on paper this time; check your own accounts.
I’m still holding the short, not closed yet. I’ll shout in the community when it reaches the level.
#ALGO $ALGO
Five hours ago, I called for shorting at 0.14u in the plaza. I made it very clear at the time: after a rise of nearly 20%, it had just touched a lot of people’s cost basis. Having been trapped for months and finally getting back to breakeven, their first reaction was to sell.
Now it’s 0.118. The target I wrote was 0.128, and it broke through that in the afternoon. It’s still sliding down now, down more than 15% in a day. The stop loss at 0.145 didn’t even come close.
That hourly candle had a very long upper wick, and it shot up to 0.1435 without being able to hold above it. What was hanging up there were all breakeven-sell orders; one glance told me this rally couldn’t be sustained. The breakout was real, the pullback confirmation was real, and I just took this part of the move.
The brothers who followed the short are all in profit on paper this time; check your own accounts.
I’m still holding the short, not closed yet. I’ll shout in the community when it reaches the level.
#ALGO $ALGO