📉 Short · $ARC
$ARC ran up near its previous high and started consolidating. Today it closed below the lower end of the range (+41.4%).
The moving averages are all bunched together, and that last candle just slipped below them. I’ll try a small short and place a limit order at 0.041569 to get in.
Plan: I’ll take half off if it drops to 0.037840 (-8.0%), and let the rest run toward 0.036194 (-12.0%). If it bounces back to 0.042775, I’ll cut my losses and get out (+4.0%). I’ll use no more than 30% of my position size, so even if it goes against me, the loss should be manageable.
I’m pretty cautious, so I only dare to try with a small position. How much do you usually allocate?
$ARC ran up near its previous high and started consolidating. Today it closed below the lower end of the range (+41.4%).
The moving averages are all bunched together, and that last candle just slipped below them. I’ll try a small short and place a limit order at 0.041569 to get in.
Plan: I’ll take half off if it drops to 0.037840 (-8.0%), and let the rest run toward 0.036194 (-12.0%). If it bounces back to 0.042775, I’ll cut my losses and get out (+4.0%). I’ll use no more than 30% of my position size, so even if it goes against me, the loss should be manageable.
I’m pretty cautious, so I only dare to try with a small position. How much do you usually allocate?