$TAO broke the 20-hour low on volume, and I opened a short.
The 1-hour candle closed below 276.83, the low of the previous 20 hours. I sold at 275.78.
That candle had 3 times the average volume of the previous hours.
Initial stop at 284.50 (3.2% above). No TP: I use a trailing stop: it moves down with the low and closes if the price bounces back up to it; 7 days is just the maximum.
Many trades don’t work out; that’s why I risk only a little on each one.
This is not financial advice. Do your own research and adjust your risk.
$TAO #trading #futures
The 1-hour candle closed below 276.83, the low of the previous 20 hours. I sold at 275.78.
That candle had 3 times the average volume of the previous hours.
Initial stop at 284.50 (3.2% above). No TP: I use a trailing stop: it moves down with the low and closes if the price bounces back up to it; 7 days is just the maximum.
Many trades don’t work out; that’s why I risk only a little on each one.
This is not financial advice. Do your own research and adjust your risk.
$TAO #trading #futures