KEEPING YOUR AMMUNITION DRY . . . scaling in and out.
So here we are . . . broke last weeks low. . . paused . . . rallied . . . and then broke hard . . . hard enough to shut down the Bitmex platform for 30 minutes and at the same time collapsing the basis into backwardation again. . . giving a tremendous buy opportunity from the rekts . . .goat food.
Again, under last weeks lows on a scale down . . . the initial buy caught a small rally . . . whether you got stopped out after the rally or stayed with the initial trade. . . the place to double down was when the exchange was overloaded and we took the futures below perp. . . such is trading. . . it is never easy.
Buying on a break below a previous weeks low (in an uptrend) or selling above a previous weeks high (in a downtrend) is much like buying and selling a 9 on the random indicator. . . . sometimes you have a very long candle . . . so the way I like to approach it is to scale in or scale out . . . to do this you must always keep a portion of your ammunition dry. . . unless you had resting orders it was difficult to get on board this market.
Hope this helps.