QTUM/BTC building a nice bottom, potential position trade
QTUM has been building a nice bottom over the last month or so with a great looking inverse head and shoulders, and since its previous down trend there isnt a whole heap of structure in its way for a return to descent price.
looking to start adding to a long term position here at the bottom of the right shoulder and keep an eye on this over coming weeks.
first to mid term targets 50-130% with the next major market structure at around 300%
this may not be something we hold the whole way up as we know the market doesn't move in a straight line, so we may look to trade this the whole way up (if thats its direction) and compound our bag all the way to final target :)
Remember, position trading comes with bigger short term risks, you need balls to hold through the dips, if your not prepaired to take 20-30% neg hits then position trading is not for you ;)
looking to start adding to a long term position here at the bottom of the right shoulder and keep an eye on this over coming weeks.
first to mid term targets 50-130% with the next major market structure at around 300%
this may not be something we hold the whole way up as we know the market doesn't move in a straight line, so we may look to trade this the whole way up (if thats its direction) and compound our bag all the way to final target :)
Remember, position trading comes with bigger short term risks, you need balls to hold through the dips, if your not prepaired to take 20-30% neg hits then position trading is not for you ;)