CHN predictable - Can people NOW see it yet? Oh wait, let me...

CHN predictable - Can people NOW see it yet? Oh wait, let me guess....it needs to drop -50% first before it gets bearish? LoL
Originally posted by 4sighttrader
I have followed my golden rule and have sold at resistance.
Had a great run over the last 6 weeks or so.

I will either wait for the retrace or will buy on the confirmation of the break of resistance.

Cheers and good luck
Originally posted by 4sighttrader
I have followed my golden rule and have sold at resistance.
Had a great run over the last 6 weeks or so.

I will either wait for the retrace or will buy on the confirmation of the break of resistance.

Cheers and good luck
Man, RESPECT! Congratulations I applaud this very much @4sighttrader

I shorted CHN on Thursday, 1 day prematurely! Had to hold firmly through a Friday Short Squeeze!

Here's the depth aswell as my prints on the course of sales hitting the bids




Sticking to the theme of prematurity, I also locked in profits of +$100, 1 day too soon!!

Very annoying when 1 trade can vastly change my small account size...Left another +$425 on the table where $1.85 was a brilliant level, to be fair had I had optimal screen time I would have been looking to trade the range much better. For example today I was NOT on the PC for the market open so didn't trade for most of the day. I was watching on mobile to see if they would sell below $2 again and sadly I didn't place any trades to short it again.

Attached is the screenshot of my exit. I certainly didn't hold through a drawdown just to scalp 2c nonetheless like @mattymcc has mentioned, we had several chances (as a long or a short) to take our profits. I also turned a winning trade into a loser holding too long so my lessons were learnt. I can't be mad at myself for seeing things the masses didn't, whilst having a plan going against the "trend" and seeming like a crazy person.

More important than the profits i did or didn't make WAS the alerts of my bearish posts, which would have given folks some ample time to de-risk, lock profits, and perhaps be patient as a long for better entries instead of chasing prices !! It wasn't many but I do appreciate the people who reached out via Facebook to send message of thanks for helping them secure profits, and others to not FOMO chase the stock. Lots of trapped money $1.95 to $2+





Attached is the 5min chart - Accumulative zone is and was always distribution IMO. I wasn't a random bear in the $2's for no reason $1.70 Gap Fill you know you wanna do it!

@h00ts I think this post took me too long so it's timed out from replying but, nice charting. Simple and conforms to the bias of the Retail longs. It may or may not be an inverse head and shoulder. Too early to tell. Either the margin calls were deliberate to flip sentiment and trap longs into this palladium hype, or they actually intend on higher prices so shorts are now taking profits and closing positions off? Capital in the bank is concerning so I am doubtful this can continue without inevitable financing.