Market Summary #1

This week was rough, nightmare for long and short traders. First falling -7% from $7298 to $6939 and then further, $6764. short time after, followed by Adam & Eve pattern raising again to $7138. Pay attention to the blue circle, you have seen this before: https://www.tradingview.com/x/mpZfbcEK/

This is ROC (rate of change) works (for me) on 1 Day and higher time frames. Showing Bearish divergence. Philosophy is following: Price increases, but movement not, it used to increase also.

Bearish Flag spotted 4h Chart: https://www.tradingview.com/x/Y7KcIMO3/

Maybe I was too bearish, got lucky, maybe patterns work, maybe both, in this trades I was lucky and dump, forgive me for it or I better forgive my self.

This is what I have done. Many trades, don't get confused. I get confused my self. All 4 were SHORTS, Trade I enter: $6800 (margin 3.33) second enter: $7252 (margin increased 5) close: $7327 (Initial amount $1000; after the trade $700) from 4 April to 8th, 4 days of misery. Trade II enter: $7293 (margin 5) close: $7184 (made $100 bucks on this) but I added additional $1000, and entered with $1700, I use my third phase method for entry, first you enter with 3x margin, if price goes opposite direction I add up more increasing margin to 5x, If I was completely wrong about enter, I add $1000 entering 5x margin, recovering losses. Greed took over, did not close the trade, where I should have. My target was lower, but you never know what will happen in between. No one is more surprised, how I ignored Adam & Eve pattern, than me. Trade III same idiotic mistake enter: $7113 (margin 5) close: $6916 (Initial amount $1800; after the trade $2000).

Finally perfect trade IV enter: $6954 (margin 5) close: $6503 (Initial amount $1000; after the trade $1300). Yes, I recovered my loses, for that reason I entered $1000, not $2000, I also manage my risk. Quick reminder, to make sense to this "risk management" my funds are $5870. So I risked only %20, not 40% like before. Goal is to decrease risk to 10%.

Trading is non-sense, no one knows why patterns emerge or why they work, some guy told me price is also a data, in books they claim everything has logical explanation, but as Russians say: "logic does not exist". Just trade what you see, in long-term or short-term, manage your risk and get rich.

Telegram: https://t.me/Konikko_telegram

Bonus: some patterns

Resistance

Trading Channel

Magic Line

snaps:

https://twitter.com/Konikko_TW/status/1250930738649858049

https://twitter.com/Konikko_TW/status/1250930937933836288

https://twitter.com/Konikko_TW/status/1250930994556928001

https://twitter.com/Konikko_TW/status/1250767367732412416