TribeWriter666
Long

VeChain Bullish Long 160sat Target

BINANCE:VETBTC   VeChain / Bitcoin
Bullish Break of long term downward trending channel's median line and break of neckline in 20 month Inverse H&S Pattern.
Target: 160sat

Never Trust. Verify.
DYOR. Not Financial Advice Just an Observation.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Trade closed: target reached: Overshot target... Nice!

Comments

So what's next? New ATM? Retrace to 100/120? What are your thoughts?
Reply
TribeWriter666 Salmonchild695
Hi @Salmonchild695, This is what I was thinking but Since it kept running I will have to rethink it!




It is entirely possible it keeps running with not much of a pullback. seems that people are speculating there is a coinbase listing coming up...
+1 Reply
Salmonchild695 TribeWriter666
@TribeWriter666, yes indeed. Speculations make these markets always hard to predict.. But we'll see!
Reply
TribeWriter666 Salmonchild695
@Salmonchild695, Absolutely.. Only thing I would add is you don't have to be right 100% you don't even have to be right 50% (although we all hope to do better than that!). The main thing is knowing your edge, always taking the trade when you see the setup and maintaining a good Risk:Reward ratio (and sticking to it). This way it doesn't matter if It goes where you predict because you can trust that your edge will be profitable over time.
Reply
Salmonchild695 TribeWriter666
@TribeWriter666, Obviously, that's true. Especially for the long run tokens (like VET). But nevertheless: it's always nicer to buy it in lower ranges than in higher ranges ;-) For example at this point, will we rebuy now and lose 15+% when it goes down to 120sats, or will we wait and see (because it might go down even further! At the same time: what if it does not get the correction we might expect, then we end up with 0 extra gains (as we didnt buy the token). Bullruns are always the hardest to trade, as we never know where the top is..
Reply
TribeWriter666 Salmonchild695
@Salmonchild695, Haha yes I totally agree. The way I try to look at it is, If it comes down great I have a plan for that, I'll be a buyer at the levels I'm interested in. If it keeps going up, with not much of a pull back that's also ok too, I'll look for another opportunity elsewhere. Out of curiosity, do you have a long term price prediction for VET? And are you accumulating or trading VET? or both?
+1 Reply
Salmonchild695 TribeWriter666
@TribeWriter666, seems like my messages arent getting through. (they keep getting 'modified by tradingview?). But I'm a long term holder, what about you?
Reply
TribeWriter666 Salmonchild695
@Salmonchild695, That's weird, that keeps happening to me too.. Been a VEN bag holder since 2017! haha But I've also been accumulating more VET at these recent lows, and will continue to buy into any dips that come... My first purchase of VEN I believe was at about $1.20 so this last pump puts the price roughly back to where I first got in (adjusting for the 100:1). I really am very grateful to have had the opportunity to accumulate at such a low price. Do you have a long term price prediction?
Reply
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