Good chance to ride waves of retracement!? HUGE momentum abuse!
Hey tradomancias,
I bet no one out here did not see that huge sell-off on friday.
Congrats to all of you who participated or is swinging this asset.
We just see a huge momentum without any resistance in the way but some profit-safes that day shown by the doji of the last D1-Candle.
What will happen? We don`t know, but I guess we can assume that nobody is willing to buy at this point.
There is two scenarios that I could imagine:
1. We build a flag, consolidate and continue the joruney to the moon.
2. (my favourite)
We see profit-safes whose movements will trigger tight placed stop-loss-levels close the the current price or the next fibonacci-retracement. We`ll probably see a domino-effect causing the market to drop down to the recent resistance-level / fibonacci-levels.
Why am I saying that?
As a bull and TA, it`s pretty hard to find a decent stop-loss at this point. There is no confirmed support-level close to the current price which offers good prices to place your stop-loss unless you are ready to lose a lot profit you`ve made with this crazy momentum. Either you take the risk to loose a lot of profit or you just place a random stop-loss close the current price. As a predator waiting for a good chance to follow that momentum you might wait right now. The prey is faaaaaar away and it`s way to risky to engage at this point. So you`ll probably wait until the market relaxes/consolidates or drops down to a confirmed support level that "guarantees" safity as a part of your strategie.
Otherwise you just gamble...
Good chance to sell? SL at ATH? Might be worth a try.
My experience: The market totally overreacts with emotions and had two days to overthink all decisions it has made. I expect the market to drop and safe profits a bit until we find new bulls buying at decenbt price-levels.
Or news/ fundamental information will destroy my idea! =)
Cheers and good trades my friends =)
I bet no one out here did not see that huge sell-off on friday.
Congrats to all of you who participated or is swinging this asset.
We just see a huge momentum without any resistance in the way but some profit-safes that day shown by the doji of the last D1-Candle.
What will happen? We don`t know, but I guess we can assume that nobody is willing to buy at this point.
There is two scenarios that I could imagine:
1. We build a flag, consolidate and continue the joruney to the moon.
2. (my favourite)
We see profit-safes whose movements will trigger tight placed stop-loss-levels close the the current price or the next fibonacci-retracement. We`ll probably see a domino-effect causing the market to drop down to the recent resistance-level / fibonacci-levels.
Why am I saying that?
As a bull and TA, it`s pretty hard to find a decent stop-loss at this point. There is no confirmed support-level close to the current price which offers good prices to place your stop-loss unless you are ready to lose a lot profit you`ve made with this crazy momentum. Either you take the risk to loose a lot of profit or you just place a random stop-loss close the current price. As a predator waiting for a good chance to follow that momentum you might wait right now. The prey is faaaaaar away and it`s way to risky to engage at this point. So you`ll probably wait until the market relaxes/consolidates or drops down to a confirmed support level that "guarantees" safity as a part of your strategie.
Otherwise you just gamble...
Good chance to sell? SL at ATH? Might be worth a try.
My experience: The market totally overreacts with emotions and had two days to overthink all decisions it has made. I expect the market to drop and safe profits a bit until we find new bulls buying at decenbt price-levels.
Or news/ fundamental information will destroy my idea! =)
Cheers and good trades my friends =)
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Still waiting for a good Chance to go short. Patients my friends! =)تم فتح الصفقة
Breakout triggered my order. Awesome Chance with awesome Risk-Reward-Ratio! Stop-Loss already Breakeven. Entry: 6,95198
1st Target: 6,36
2nd Target: 6,0
3rd Target: 5,66
تم فتح الصفقة
First target reached! =) Sl at 6.45!ملاحظة
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Dont get too greedy guys. We had a very nice trade yet! =) SAFE your profits at this point!ملاحظة
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let`s find a good price to buy!تم فتح الصفقة
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probably gonna stack up my position at 6,0 close to the 61,8 retracement which is a very nice support (neckline + blue ex-resistance)! #PYRAMIDE .. good luck guys! =)ملاحظة
تم فتح الصفقة
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Daytrader: Stop-Loss 6,044Swingtrader: Stop-Loss @ 5,86 (could be worth to stack position)
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.