Short Setup for the Flush Lower and Update 14/08/2017

My methodology has been really solid for the long side - has helped me hold for the bigger move, and got a few solid scalps along the way.
It wasn't the greatest for adding to a winner on flags along the way. In theory could have ended up with a home run if adding on each minor flag breakout. Is food for thought going forward.

Now have developed a setup to scalp the over-extensions on the short side. The most important thing is to make sure that has a pretty concrete system because shorting BTC just because it's overextended is suicide.

(1) Identifying the speed-up first is important. The daily should be far extended from the 9EMA (20%+), and then it should have been holding dips on the 9EMA on the hourly for quite some time - then start speeding away from the 9EMA.
(2) Identifying the true crack. Want a big pull through the 9EMA on the hourly, that shows a "character" change.

From here should be able to short, and momentum should carry it down into a flush. Shouldn't really have a good bounce, and should work very quickly. Bounces will occur within the hour, but each hour should really stay red overall.

Below is 1 that worked completely, 1 that worked somewhat (trailing stop hit), and 1 that didn't work at all.




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