As expected, the breakout from the ascending triangle is legit. The rally since has been persistent and without major pullbacks. I'm looking for a continuation to the 5100+ Yuan level where I'll be looking to at least partially hedge my longs. Blow-off top rallies up to 5500 could be in the books.
Reminders to myself:
The risk of this rally completely ripping through my short zone is significant, so there's no need for stops above 5600ish. Take the losses and sit back and enjoy as your longs continue gaining.
This Huobi reversal zone should roughly line up with a BTC-E reversal zone of 730 to 770
If shorts develop, watch the correction for dipping into the low 4000s. Refine accordingly
Reminders to myself:
The risk of this rally completely ripping through my short zone is significant, so there's no need for stops above 5600ish. Take the losses and sit back and enjoy as your longs continue gaining.
This Huobi reversal zone should roughly line up with a BTC-E reversal zone of 730 to 770
If shorts develop, watch the correction for dipping into the low 4000s. Refine accordingly