Like what I see on the weekly chart of the underlying asset (SUSHI) so I opened a trade in Binance yesterday. Bought the SUSHIUP contract at $0.089. Let's see how it goes!
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I know crypto is crazy but this has gone up by 25% in 24h.
Trade closed: target reached
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Contract closed at $13 spot. spot gains 30% ($9 to $13). Contract profit 82%. Test syccessful. The product holds its promise (higher payout compared to spot). Will trade again. Btw, if you are bought #SUSHI keep your position. I exited on a major SR level as I was only experimenting. Your next stop should be near $17. Good luck!
@hamzaiftekhar, if it breaks clear from current levels my next stop is at $17. Bear in mind I'm trading a leveraged token so the longevity of my position will be also determined by the delta increase of the contract compared to the underlying as well as the futures contract price of the asset. Generally speaking I have great faith in this project and I expect it to reach a level much higher than the $23 area. I don't try to find the "when" because I don't like this type of analysis, and I trade the weekly charts so my timeframe is higher than most retail traders to begin with.
hamzaiftekhar
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@blockfanatic, thank you for your response.
I'm not well versed in leveraged tokens. However I was seeking a general idea of possible future value of SUSHIUP since you posted your chart analysis.
Thanks
BlokkyClub
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Contract closed at $13 spot. spot gains 30% ($9 to $13). Contract profit 82%. Test syccessful. The product holds its promise (higher payout compared to spot). Will trade again. Btw, if you are bought #SUSHI keep your position. I exited on a major SR level as I was only experimenting. Your next stop should be near $17. Good luck!
TP for coming week, month , end of bull run?