Conditions for a Perfect SHORT Trade on
$M
1. Break of the Parabolic Curve: As long as the parabolic uptrend line remains intact, the bullish trend is still valid. A decisive break below this curve signals a potential trend reversal.
If the price continues higher and respects the parabolic curve, we simply let the market do its job. There is no need to force a SHORT trade when there is no strong reversal signal to confirm it.
We are traders, not gamblers.
2.Reversal into the Parallel Channel
3. Retest of the upper boundary of the Parallel Channel (Golden Fib level)
4. Look for a highprobability entry on lower timeframes using confluence from: Fibonacci zones, PA, and candlestick patterns.
5. Take profit and enjoy the gains.
This is a simple, clean setup that can be applied to ALL altcoins experiencing a strong parabolic uptrend (as shown in the chart).
You can study it, backtest it, and use it in your trading.
Iβve personally used this setup to swing short many coins Iβve traded, and most of them later dropped over 90% from their peaks.
Goodluck
Hi Bang, could you please check for a entry short of M/USDT? Thanks in advance