LUNA partial profit taken and indicator levels update
Since our previous LUNA plan worked out great, we are now taking partial profits (as noted in our previous chart) to rotate our funds.
We got in at the bottom. I hope some of you followed our ideas and also got profits. It is nearly 28% profit.
Taking profit doesn't mean we are not bullish anymore on LUNA. We are SUPER bullish for LUNA. Those who knew us since 2021 know that we bought LUNA since $5 and we will keep doing so.
Profit taking is just part of our trading discipline and I think you should practice too.
Now we are updating our chart with some fresh indicator data, especially the fib speed resistance fan.
The overall market and BTC currently want to retrace a little bit back. (I am even expecting a bigger retracement but who knows).
So, it is normal for our favorite LUNA to slowed down a little bit too.
We expect it to come down a little bit to the green rectangle area because it is the 0 level of the fib channel and 0.618 level of the fib fan.
Once it arrives that area, we will check the overall market conditions again.
If it is a proper retrace, we will enter again there and ride along.
Just like our previous trade, we don't want to open limit orders ahead since we don't quite like the current state of the market.
Patience is always the key!
If you like this idea, please give likes and subscribe.
Cheers!
Taking profit doesn't mean we are not bullish anymore on LUNA. We are SUPER bullish for LUNA. Those who knew us since 2021 know that we bought LUNA since $5 and we will keep doing so.
Profit taking is just part of our trading discipline and I think you should practice too.
Now we are updating our chart with some fresh indicator data, especially the fib speed resistance fan.
The overall market and BTC currently want to retrace a little bit back. (I am even expecting a bigger retracement but who knows).
So, it is normal for our favorite LUNA to slowed down a little bit too.
We expect it to come down a little bit to the green rectangle area because it is the 0 level of the fib channel and 0.618 level of the fib fan.
Once it arrives that area, we will check the overall market conditions again.
If it is a proper retrace, we will enter again there and ride along.
Just like our previous trade, we don't want to open limit orders ahead since we don't quite like the current state of the market.
Patience is always the key!
If you like this idea, please give likes and subscribe.
Cheers!
Order cancelled:
Since the price has broken the 0.618 level of fib speed resistance fan, we considered $LUNA is now in reversal mode and the trade will be cancelled.
We will be waiting at 0% level of the Fib Extension.
We will be waiting at 0% level of the Fib Extension.
Comment:
If the price could go up above 0.618 level, we are interested to look again for potential re-entry.
We shall wait and see how things are going in coming days.