LINK/BTC idea: is 4chan's favourite ready for takeoff again?
Idea - LINK has shown strength for months, seems to be ranging + primed for another take off
Counterargument - Every idiot on Twitter is posting the same meme chart. Never a good sign
Meaningful levels - stop loss at 188874, targeting 33372 and 44659
Time period - 1 month
Counterargument - Every idiot on Twitter is posting the same meme chart. Never a good sign
Meaningful levels - stop loss at 188874, targeting 33372 and 44659
Time period - 1 month
Trade active:
This is a live trade, have placed my stop loss at 18934 (slightly above what was added to the idea).
Comment:
Looking like crap and flirting with the stop loss. I would've preferred not to see that support break.
Trade closed manually:
Closed this one manually as I feel that I rushed into the entry. Next time will set bits at various price points.
It's looking like LINK will bounce at a lower level. I'm looking to buy at confirmation, or buy at a lower support level in the next few days.
It's looking like LINK will bounce at a lower level. I'm looking to buy at confirmation, or buy at a lower support level in the next few days.
Comment:
Made a 6.8% loss on this trade. I think this will be fairly easily recouped when this bounces. I need to work on making better entries, or be content to leave them a bit longer to percolate at certain levels.
Comment:
I am glad that I stopped this trade manually as the next candle.... as I anticipated... opened lower, and would have triggered the 8% stop loss.
It seems highly likely to me that this will move down to the 18-17 level before rebounding. 15 seems a little low given the "big event" narrative being put out there in the coming weeks.
I really need to work on my entries. Perhaps it would make sense to get in at a higher level (20's again) where an uptrend would need to be 'confirmed'... I sincerely doubt it would go that high from here unless we're seeing a change in direction.
It seems highly likely to me that this will move down to the 18-17 level before rebounding. 15 seems a little low given the "big event" narrative being put out there in the coming weeks.
I really need to work on my entries. Perhaps it would make sense to get in at a higher level (20's again) where an uptrend would need to be 'confirmed'... I sincerely doubt it would go that high from here unless we're seeing a change in direction.
Trade active:
Ok, I set a new buy order at the 21 level.
My thinking is that it's not gonna hit this price unless it's back in an uptrend. If it keeps ranging downwards, then I simply stay in BTC. Previous price action suggests it would trend up with some momentum before i need to worry too much.
I could care less about making maximum profit! One thing I have learnt in 2 years of crypto is that you must temper greed with emotional detachment!
Would rather 'set and forget' and have no stress, than sit red-eyed at the screen trying to gobble up every pip.
My thinking is that it's not gonna hit this price unless it's back in an uptrend. If it keeps ranging downwards, then I simply stay in BTC. Previous price action suggests it would trend up with some momentum before i need to worry too much.
I could care less about making maximum profit! One thing I have learnt in 2 years of crypto is that you must temper greed with emotional detachment!
Would rather 'set and forget' and have no stress, than sit red-eyed at the screen trying to gobble up every pip.
Comment:
Lessons from this trade.
+ Market structure is generally a more important factor than 'patterns' or fractals.
+ The massive wicks seen in July were indicative of a top.
+ Always wait for confirmation before diving into a trade, if possible...
+ Market structure is generally a more important factor than 'patterns' or fractals.
+ The massive wicks seen in July were indicative of a top.
+ Always wait for confirmation before diving into a trade, if possible...
Comment:
Well well - big green candle on LINK - looks like it could be gearing up for another run. I am happy with my entry where it is (21 mark) as I do feel it needs to break above the local resistance to confirm the uptrend.
Order cancelled:
I decided to duck out of this one.
