TRX BTC Long Triggered on Daily TimeFrame

A long setup triggered on the TRXBTC Daily Chart . See chat the chart above for details. Labelled are the entry and the targets. We will be using the baseline (the current green trend line on the chart) to manage the trade also.

There are two different setup types that are triggered, each with its own targeting. In these cases, we take the more conservative target 1 for taking our first profits, and then after taking those first profits, on the remaining positions, we can more aggressive trade management. The more aggressive targeting is then considered once the first target is satisfied.

I will post updates on this trade as it progresses.

Risk Disclosure
Futures , forex, stock, crypto and derivative trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results

Hypothetical Performance Disclosure
Hypothetical performance results have many inherent limitations, some of which are described below. no representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results
Comment: Target 1 has been hit. Congratulations. A good option would be to take some profits here and apply trade management techniques. This could include putting in a breakeven stop or using the baseline for trade management, such as a close below he baseline would stop you out or if the baseline changes color with the indicator.


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