SXP: waiting for a stronger bounce to short

2020年8月22日

Disclaimer: This is not financial advice

In high leverage trading your entry is a matter of life or death, you need to have patience and to not let fear of missing out drive you into opening rushed positions. Map out your trades in advance and wait for the right entry. Our aim is to capture quick & safe profits, not to predict the future, this is possible only if we fight for a good entry. So if you're nervous and itching to open a position then take a few deep breaths and don't trade!

SXP is a bit in nobody's land, it found some support around 2.27 but don't let that fool you because we lost an important level the past couple of days ($3) and overall the momentum is quite bearish. So is there any opportunity for HLTs? Right now, no sadly. However I see a good potential setup should we retest $3, the area 2.85-3.09 is great if you are looking for entries for a high leverage short with target the lower part of the range around 2.5.

Entry: 2.85-3 SL: 3.08 TP1: 2.5 TP2: 2.28

2020年8月22日

交易结束：到达目标

Great, we hit our entry are so those who took the opportunity to open a position should be in profit already. Now we wait for $2.5.

2020年8月23日

交易结束：到达目标

There is a reason why they great things come to those who wait! We started watching SXP on its way up when price was 2.71. We didn't open longs, we waited for a good entry for a high leverage short! Last night we got (check my previous update), and then we hit our first target 2.5 and got really close to our second target as well. Now I've closed 50% of this trade and leaving half open for 2.28. I still we will go there. Happy trading and congrats to all high leverage traders who took this setup and made money.

2020年8月24日

交易结束：到达止损

Closed the rest of this trade with a small loss, overall 20-30% profit