Aussie-scalper

scalp short-term trade on LINK +7.0% prfofit target

Aussie-scalper Updated   
BINANCE:LINKUSDT   ChainLink / TetherUS

Fairly bullish on LINK, holding up better in correction compared to BTC and ETH by a few percentage points.
ALso, technically looking stronger on the charts.
I think a fairly good probability of a retest of the highs fairly soon ( 60% ).
So, I have a scale-in buy strategy in 3 instalments...the first trade assuming investing 20K here.
is:
1. buy 600 shares ( 1/6 total position size) market around 3.97
2. buy another 600 at 3.83 for an average first 1/3 instalment of 3.90
3. If runs to target at highs of 4.17 take full profit
second scenario
4. if corrects further down -7% enter again at 3.63 another 1/3 or 1200 shares
5. Hold until makes a profit on average price at 3.763 for +7% or 4.027
third scenario
6. if corrects a further -7% enter again etc and take profit on whole average price at +7%

There is no stop-loss on this strategy because it is based on probabilities only and this is risk capital. I believe it will retest those highs even in a catastrophic loss in the next 3-6 months and I'm happy to HODL.

Trade closed: target reached:
made a safe, but perhaps conservative profit here...waiting for next pull-back
set up for another long trade leg up...

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