I just closed the CLOUSDT trade in profit, but the value would have been much bigger.
I shared this trade with my community on January 9, when I saw that the price will likely dump and retest the high afterwards.
The dump happened, we got in, it dipped more, then it started moving in the desired direction.
When I've used this strategy in the past, the price usually takes out the previous high before dumping again. I was expecting the same thing here, so I used the last swing high ($0.8557) as TP.
The price got close ($0.8525) and reversed. I decided to wait a bit to see if it will go back up or continue dumping.
To protect myself, I used the last swing low (on the 1H) as a decision point: below this level and I'll sell.
I got the alert this morning and closed the trade.
Next time, I'd use the 1H RSI as an indicator on the strength of the pump upwards. Once we hit above 70, I start to prepare to exit the trade.
Onwards though. Need to look for trades today.