Strategy for adding BSV position size
after getting a successful breakout, now waiting to see what bsv next move is. We are starting to bang up against the 183ish resistance. A clear of this area could see it shooting up 50% to 150%. However I am hestitant to enter a trade here, and will wait for price to pull back, in the 0.618 fib which happens to be close to 160 usd, a nice round number, sitting on support.
that being said, nothing is guaranteed in crypto. the style of trading i like most is trend based using the markets momentum with 1:1 rr where i sell 50% of my position at first target and adjust my stop loss to break even. as long as the runners run, it makes up for any stop losses or break evens. that hasnt happened on bsv so i have not being able to take the trades i like.
if there is going to be a reversal in bsv's trend to upside with nice smooth cyclicity i will be posting TA regulary, (for myself mostly) to safely add to my position
that being said, nothing is guaranteed in crypto. the style of trading i like most is trend based using the markets momentum with 1:1 rr where i sell 50% of my position at first target and adjust my stop loss to break even. as long as the runners run, it makes up for any stop losses or break evens. that hasnt happened on bsv so i have not being able to take the trades i like.
if there is going to be a reversal in bsv's trend to upside with nice smooth cyclicity i will be posting TA regulary, (for myself mostly) to safely add to my position
Comment:
I should note if price can close above 183 i think there will be some opportunities to enter trades. unless we get a breakout pattern forming, i will wait untill its cleared that level and have price pull back into the moving averages where i can plan my next trade