Crypto Week 3 Summary
week 3 performance for crypto trading
Object: BTC Perp (5x).
Amplitude of the move in the object: 5.2%
Return: 7.3% (before commission); 6.7% (after commission)
Narrative on the market:
This week has been favorable for bearish trends—a dream scenario for traders who thrive on simplicity in the market. Amidst the highs and lows, here’s a recap of my experiences:
- On June 23rd at 8 PM, I noticed a clear rejection at 2ATR and took a short position. The trade performed as anticipated, confirming my market analysis. However, having recently doubled my account size with additional funds, I realized my position could have been more substantial. As a result, my returns for the week didn’t quite match the exceptional gains of the previous two weeks.
- Scaling out strategically, I sold 1/3 of my position as the downtrend hit 7ATR at 61,000, and another 1/3 as it reached 9ATR at 59,500. The remaining portion was managed with a trailing stop and a hard stop at 61,700. Unfortunately, this final segment was stopped out, marked by the yellow ellipses in the chart.
- Taking advantage of another opportunity, on June 28th at 8 PM, I initiated another short position at 61,000 when the price was rejected by 3ATR. This trade remains open with a stop at 61,500. Looking ahead, my target is 56,000, anticipating potential volatility along the way. Stay resilient!
