BINANCE:LRCUSD   Loopring / US Dollar (calculated by TradingView)
• I maintain my position that I have not seen any price action that would suggest LRCUSD establishing a new ATH.
• That being said, LRCUSD is indeed reaching rather attractive levels to consider DCAing in.
• Though LRCUSD might start dumping further, daily RSI is nearing record lows.
• Strategy A. Long if LRCUSD breaks above the parallel channel and closes 2 daily candles above.
• Strategy B. DCA in, if LRCUSD breaks $0.83, and in incremental proportions, in-between $0.83-$0.57.
• The maintenance of mental frame is much more important than any immediate profit and loss.
• For LRCUSD, maintain mental frame by removing all expectations of any GME announcements from your mind. There is a huge difference between news and rumours. And as we know, fundamentals lag technicals.


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Comment: Commencing DCA.
$0.79 5%
$0.74 10%
$0.68 15%
$0.63 30%
$0.57 40%
Comment: • As mentioned in my previous post on LRCUSD, there are marginal returns near the peak. Selling at $3 instead of $4 is just a matter of 25%.
• Similarly, there are marginal returns near the bottom. DCAing in at $0.75 instead of $0.50 is just a matter of 50%.
• But comfortably buying and selling near bottoms and peaks gives us, for the above completely hypothetical price points, a 300% profit. Yes, it's much less than the hypothetical 700% profit, but the market is hard to time ideally. And MUCH MORE IMPORTANTLY, the mind plays tricks on you so much so that the moon-hopium injected into your brain near the peak will dissuade you from selling. There are no profits or losses till you sell!
• This is why the maintenance of mental frame is much more important than any immediate profit or loss.
Comment: • 30% of budgeted bag filled.
• However, the markets are still uncertain, and it is best to be prudent than to be overly aggressive in buying and keep shifting one's goal posts
• (How many analysts have been longing from $3 to $2 to $1 to whatever low is the most recent? This is especially dubious given how BTCUSD has been shaky ever since it broke the 8W SMA in Nov'21.)
• I still don't think this bullrun is over. But whether it's over or not, profit making is paramount, and it's good to remain evidence-based, level-headed and prudent.
Comment: Change of Loopring CEO. Given public commsing so far, why am I not surprised? No change in current strategy.
Comment: We might get a chance to fill the rest of the bag. Time to ready the dry powder :)
Comment: 100% bag filled.
$0.79 5%
$0.74 10%
$0.68 15%
$0.63 30%
$0.57 40%
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