BTC meandered at this line for a while.I played both sides of this morning's dump.
As the EMAs tightened together, I expected a jump up, but feared a fall; so I did something I DO NOT advise new traders do. I entered equal long and short positions at the hesitancy price line.
This second long raised my earlier long entry just slightly, and now I'm currently underwater (just barely) on that position. I'll add to my position again if we go as far down as the next resistance.
In the meantime, I made a good bit on my short, which has paid for what I'm currently down on my long.
This type of strategy is VERY hard to get right, especially for someone as green as I am. It's hard to get right, and doesn't always work out, but this time I felt it was worth risking a small loss as insurance against a dump.
Sometimes, particularly in the short term, you have to follow your instincts. There was a good chance I could've lost some if there was a pump, but in this case, it seems (so far) a smart hedge. And if there had been a pump, the loss would have only been a small part of my overall gain.
Again, if you're new, please don't try this at home. It's a great way to lose $ if you're not quick enough.

