I don't usually trade relatively volatile crypto but lets give it a shot for this one!
lets start of with the following statement:
THIS IS HIGHLY VOLATILE, USE A SMALL POSITION SIZE.
just take a look at those numbers for the risk and reward. Those are big numbers, is weak and it can move rapidly.
so to minimize risk use a adjusted position size, a small one.
For the trade setup:
KMD/BTC is has been in a down trend for a longtime now and is nearing a strong that used to make KMD move up hard.
now the trade here is betting on it to stop going down and to start going up from the buy zone, this is adding more risk since the trend is still down at the time of writing so make parameter for yourself on how and when the price is showing signs from going up, because that needs to happen for this to be profitable.
-strong cycle pattern
-fractal nature of KMD
there are 2 buy zones, defined by 2 different stop losses. making different profit/loss situations!
Gains and losses are on the chart, always sell a tiny bit below the line to make sure it gets hit.
I will update this chart with signs if I see them but I strongly suggest everyone does the same.
I will only trade this if we get a sign(s).
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock/cryptocurrency picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. These are not facts but my personal views and opinions.
I will not and cannot be held liable for any actions you take as a result of anything you read here.