the stoploss is at 2.60 which is yesterday's target, if price turns back from here we could get an extension down. The overall structure is bullish. I've just checked the 2 hrs time frame it shows that the bounce happened at its 38% which is a sweet zone for bounce. MY reasons to play long is that there's more growth opportunity than the decline probabilities from here. Yesterdays downfall was almost expected and quite violent, it was needed to shakeoff a few noobs which were long and induce a bear mindset, this is how the market gets you shorting the bottom while it goes slowly and steadily up. Yesterday we shorted the top now we long a bounce, it's the most probable trade to do
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Trade active:
my trade is active now; i'll be updating as long as i'm around
Comment:
my confirmation would be the reclaiming of the first red line from the bottom
Trade closed manually:
I am manually closing it before it reaches stoploss ; it went south to quickly . I'm going to check on other coins
Comment:
i know price is hitting the trendline but it could just go past it easily , i prefer closing, accept a small loss and open later with confirmation