I have been waiting for this opportunity for more than 2 days and it is time to do it. I have decided to short MATIC for short term.
I believe that it is overbought and it will retrace soon.
If you look at 15m, 1h charts you can see the price have higher highs but RSI has lower highs. Besides the histogram on those charts shows that it is losing power to the upside.
Any way I can be completely wrong so I set a 5% stop-loss for a %12 profit. It's worthed to try :)
I am not a professional trader and only trading daily weekly with a conservative point of view. I can be completely wrong (that's why I have stop-loss) Please do not trust anyone or make a decision with their strategy. These are all my personal opinions and they are not financial advice! Please do your own research. You do not need to like comment or follow me :)
Boom stopped! And thanks to my stop-loss.
I never count on how much I can make in a trade, on the contrary how much I am willing to lose with this trade. Also, it is really important not to be emotional with your positions :)
satoshihunter
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I didn't get stopped-out but it was about to :)
Anyway let's see if we hit the first target
- 0,01329$ / %4,44
- 0,01267$ / %8,99
- 0,01224$ / %12,14 <-- This is where I will take my profits
I never count on how much I can make in a trade, on the contrary how much I am willing to lose with this trade. Also, it is really important not to be emotional with your positions :)