AION has been in a consolidation phase and broke out. There are signs of one more push up. Just an idea based on the current price. As always, when you're making a trade on alts, make sure you keep an eye on the price as these assets can drop just as fast as they rise. There are several indicators that are saying that we might drop a little but this is what I currently think if we're in a 5 wave impulse:
Buy anywhere between 410 and 420
Sell 80% at 475
Sell the remaining 20% when you're comfortable but I'd recommend around 525.
Stop loss around 415. It's a bit tight, so you could move the stop loss to around 400 but if it falls below 400 it's likely returning to 350.
Buy anywhere between 410 and 420
Sell 80% at 475
Sell the remaining 20% when you're comfortable but I'd recommend around 525.
Stop loss around 415. It's a bit tight, so you could move the stop loss to around 400 but if it falls below 400 it's likely returning to 350.
Trade active:
And there she goes!
Don't be greedy and don't expect it to go much further than 475/525.
Don't be greedy and don't expect it to go much further than 475/525.
Trade closed manually:
AION didn't quite make 475 like I had hoped. Looks like it topped out around 466. I'll be closing this trade at 450 as it's finding more resistance at a new lower high.
Entry at 420
Exit at 450
Gain of about 7.14% minus commission
Entry at 420
Exit at 450
Gain of about 7.14% minus commission
Comment:
Just to close the loop here. It would appear that there were a few opportunities to still close this trade at 475 as originally stated. Just needed a little more time. This has followed suit as BTC has started a decline so no positions are recommended in AION at this time: