DGB: on watch & getting into a long position swing as of this morning with a 1/2 position at 0.061 with an order for the other half at 0.0581.
As demonstrated by the sideways long-term moving averages, this one has not done a whole lot since May of this year. I do hold some in my HODL funds so I always have my eyes on it in the background. Nice run-up in August, but quickly retraced most of the move nearly invalidating the move, but held on the weekly. This one is back on my radar as we finally as of today get back up to the top of that range from August. We have now retreated back from it a bit so I grabbed a position. Not getting into a full position as we still have the 200 sma to deal (dark red). I am looking to test the 0.078 area again and see if this time we are able to actually pop it as it has proven tough to get over on multiple occasions since the initial May crypto selloff.
IF we can get up to that 0.78 level, I will be watching the price action there to see if we are going to try to pop it and run or if we meet stiff resistance once more. Given the overall bullish nature of the cryptosphere right now, I am taking this shot to see if we can make a run for 0.092 and 0.129 and possible retest all the way to 0.165. This trade has a lot of upside potential if/when it is ready to move.
To recap, I am triggered in for 50% size at 0.061 with an order to scale in the rest at 0.0581. My stop is at 0.049 I will scale out a quarter of my position at 0.0775 just in case we are unable to get above that resistance and look to buy back into the position on a pullback. I have orders to sell the rest of the position sitting at 0.092, 0.129, and 0.165. Will of course manage it dependent on price action, but those are the sitting orders in case we have a crazy runup and I am not by charts.
As demonstrated by the sideways long-term moving averages, this one has not done a whole lot since May of this year. I do hold some in my HODL funds so I always have my eyes on it in the background. Nice run-up in August, but quickly retraced most of the move nearly invalidating the move, but held on the weekly. This one is back on my radar as we finally as of today get back up to the top of that range from August. We have now retreated back from it a bit so I grabbed a position. Not getting into a full position as we still have the 200 sma to deal (dark red). I am looking to test the 0.078 area again and see if this time we are able to actually pop it as it has proven tough to get over on multiple occasions since the initial May crypto selloff.
IF we can get up to that 0.78 level, I will be watching the price action there to see if we are going to try to pop it and run or if we meet stiff resistance once more. Given the overall bullish nature of the cryptosphere right now, I am taking this shot to see if we can make a run for 0.092 and 0.129 and possible retest all the way to 0.165. This trade has a lot of upside potential if/when it is ready to move.
To recap, I am triggered in for 50% size at 0.061 with an order to scale in the rest at 0.0581. My stop is at 0.049 I will scale out a quarter of my position at 0.0775 just in case we are unable to get above that resistance and look to buy back into the position on a pullback. I have orders to sell the rest of the position sitting at 0.092, 0.129, and 0.165. Will of course manage it dependent on price action, but those are the sitting orders in case we have a crazy runup and I am not by charts.
Trade closed: stop reached:
ah well. it happens! Moving onto the next one!