I'm thinking out loud while looking at #Ethereum in the major trend... $ETH
It has returned to its main rising trend, which has been supported for about 15 months, and has also received a partial upward reaction.
Market makers like to hit the heads of technical analysis users like us with such long-running trends. There is a possibility that such a scenario may occur here as well. In this direction; The price may drop below $1500 to get trend liquidity.
This means a 9% loss for a long position that can be taken here. If I open a 10x position and stop, there is a 90% loss. Aboo, so...
What should I do then...
Of course, gradual position... Since I don't have very large positions, let me take my first stage position from here. It just so happens that if the price continues to pull back, I'll buy my tier 2 at $1510. In this scenario, if I don't get what I want and stop, I will lose approximately 4.5%. Of course, there is also 10x. So I have a 45% chance of losing from this trade. The risk is still high...
However, I trust #ETH because it is a major coin. Also, if there is an upward reaction, I target;
TP1: $1735
TP2: $1825
if eats TP3: $1999
So, if the levels I want reach the levels I want, I will make an average profit of 8.5-9%. For a 10x position it would be 85-90%. So, there is a possibility that I can risk 1R and earn 2R.
Yes, this will be the trade I will make... By the way, let me remind myself that I only use 20% of my futures deposit, so that I do not make the mistake of entering an all-in position.
We have come to the end of the thought out loud. Thank you for taking the time to read...
It has returned to its main rising trend, which has been supported for about 15 months, and has also received a partial upward reaction.
Market makers like to hit the heads of technical analysis users like us with such long-running trends. There is a possibility that such a scenario may occur here as well. In this direction; The price may drop below $1500 to get trend liquidity.
This means a 9% loss for a long position that can be taken here. If I open a 10x position and stop, there is a 90% loss. Aboo, so...
What should I do then...
Of course, gradual position... Since I don't have very large positions, let me take my first stage position from here. It just so happens that if the price continues to pull back, I'll buy my tier 2 at $1510. In this scenario, if I don't get what I want and stop, I will lose approximately 4.5%. Of course, there is also 10x. So I have a 45% chance of losing from this trade. The risk is still high...
However, I trust #ETH because it is a major coin. Also, if there is an upward reaction, I target;
TP1: $1735
TP2: $1825
if eats TP3: $1999
So, if the levels I want reach the levels I want, I will make an average profit of 8.5-9%. For a 10x position it would be 85-90%. So, there is a possibility that I can risk 1R and earn 2R.
Yes, this will be the trade I will make... By the way, let me remind myself that I only use 20% of my futures deposit, so that I do not make the mistake of entering an all-in position.
We have come to the end of the thought out loud. Thank you for taking the time to read...