It's my fist time trading JASMY, but the asset and it's fundamentals are irrelevant to me. My CryptoScanner software alerts me to assets that are moving and I analyze each one from there. The 4hr chart shows the development of a potential head and shoulders a little better but I have chosen the 1hr chart to give us a little more accuracy.
As always when shorting - timing is critical and I believe we have been patient enough thus far and now is the correct time to consider an entry - with caution. I will open my first 'light' short at 0.003773 to dampen any FOMO I may be feeling at that time. Price will probably rise to around 0.003825 which I believe will be the best entry possible. I will control my greed at that level and just observe instead.
If price goes above 0.003825 then I will close my small order and move on to my next trade. Going long JASMY may very well be one of those trades so we'll have to wait and see.
If things go according to plan, I will open further short orders as price continues to move down but I will pay extra attention to what happens at the 0.003500 level which is a potential reversal point if their intention is to trap traders short.
As always when shorting - timing is critical and I believe we have been patient enough thus far and now is the correct time to consider an entry - with caution. I will open my first 'light' short at 0.003773 to dampen any FOMO I may be feeling at that time. Price will probably rise to around 0.003825 which I believe will be the best entry possible. I will control my greed at that level and just observe instead.
If price goes above 0.003825 then I will close my small order and move on to my next trade. Going long JASMY may very well be one of those trades so we'll have to wait and see.
If things go according to plan, I will open further short orders as price continues to move down but I will pay extra attention to what happens at the 0.003500 level which is a potential reversal point if their intention is to trap traders short.
Comment:
Four green candles on the 15 minute chart are a good sign that we may be heading into the shorting zone. I managed to get my first long at 0.003617 and have added a few small orders since. I observed that JASMY remained still while BTC, ETH and others were pumping up around it, so that's a good sign that they do not want to take prices too much higher. Sorry I can't post updated charts on this platform. My subscription level is 'Pleb' which doesn't allow me such perks ;-)
Trade closed manually:
Everything looks absolutely perfect and going according to plan right? Well, even though I did get a good short entry, I had second thoughts and decided to close it at break even because there are just too many other assets rising around the board. My instinct will not let me continue with this short. I may end up kicking myself if this continues to drop, but I trade based on my instinct so that's that.
If you got a good short entry - well done - I hope the rest of the trade goes well for you.
If you got a good short entry - well done - I hope the rest of the trade goes well for you.