ADA looking to break these levels for new buys
I sold a lot of my trades that were in great profit last night during the flash crash (could have held on to more, but took my profits across the board). Now looking for reentries!
ADA looks good if it takes the next two levels from my perspective. I'm looking at .89 and .98.
.89 is a level that would reclaim a bit higher support, as it broke through it's nearest support of .89 last night. If it reclaims that (goes high and rebounds off of it or follows along it), .89 is a good area to start the position.
.98 is an official break out zone for me. If ADA breaks through .98 on good volume, holds above it on 4hr + chart, and rebounds, I want to buy. It may be a few days or longer before this happens and depends on BTC and market conditions (trend up) in my opinion.
It is also possible to start averaging into ADA here with 2.5, 5% position size compared to your total (with a larger S/L becuz small position can afford larger loss), then as price behaves as you expect, you raise the SL and add more on your defined levels. (Full block entry for me is 10% of portfolio on the trade, max I want to put in a trade over the cycle is 25% of portfolio . Small entry to test waters for me is about 2.5 to 5% of portfolio).
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Crypto 2021 Strategy notes:
I enter trades in 5 and 10% positions (of total trading portolio). If possible I look to add to succesful positions to a max of 25% total of portfolio.
For this cryptocurrency 2021 bull market, my profit taking targets are around 40-50%, in quarters, thirds or sometimes halfs. I look for 80-100% gains for further profit taking.
Depending on the coin and cycle of its pumps, I hold some of my position through 100-200-300% returns on the lucky ones, taking profits on the way up. ($LUNA, $ADA)
ADA looks good if it takes the next two levels from my perspective. I'm looking at .89 and .98.
.89 is a level that would reclaim a bit higher support, as it broke through it's nearest support of .89 last night. If it reclaims that (goes high and rebounds off of it or follows along it), .89 is a good area to start the position.
.98 is an official break out zone for me. If ADA breaks through .98 on good volume, holds above it on 4hr + chart, and rebounds, I want to buy. It may be a few days or longer before this happens and depends on BTC and market conditions (trend up) in my opinion.
It is also possible to start averaging into ADA here with 2.5, 5% position size compared to your total (with a larger S/L becuz small position can afford larger loss), then as price behaves as you expect, you raise the SL and add more on your defined levels. (Full block entry for me is 10% of portfolio on the trade, max I want to put in a trade over the cycle is 25% of portfolio . Small entry to test waters for me is about 2.5 to 5% of portfolio).
------
Crypto 2021 Strategy notes:
I enter trades in 5 and 10% positions (of total trading portolio). If possible I look to add to succesful positions to a max of 25% total of portfolio.
For this cryptocurrency 2021 bull market, my profit taking targets are around 40-50%, in quarters, thirds or sometimes halfs. I look for 80-100% gains for further profit taking.
Depending on the coin and cycle of its pumps, I hold some of my position through 100-200-300% returns on the lucky ones, taking profits on the way up. ($LUNA, $ADA)
@eddietradezz
