The short selling logic review of #river
I made a quick trade with a small account, and the logic is as follows:
1. Yesterday, when the price was above 60, I considered trying to short when it reached around 80, as the shorts below had mostly been liquidated, and the price was at an extremely high level.
2. In the evening, I saw a death cross between EMA 7 and MA 30 on the 15-minute chart. The first target for profit taking was set at the 100 MA line below, where I monitored the position for profit taking near the target, with a 10-point space.
3. I confirmed a larger timeframe, and the 2-hour EMA 7 showed signs of turning down. The 2-hour candlestick pattern was initially bearish, indicating that at least one more 2-hour bearish candlestick would follow.
The risk of touching the top on the left side is quite high, and this coin is really volatile, so I have only chosen to operate on short-term trades for now, with the opportunity to do more later.
