Everyone, I’m planning to open a large long position at
$GRVT .
Take profit: 0.208721
Stop loss: 0.177707 👇
You might be wondering the obvious question: why go long here?
The price is ridiculously low.
The 15-minute candle closed at 0.1806, and the 20-day range is 0.1786 to 0.3093.
The current price is right at the 1.5th percentile, practically sitting on the threshold.
It’s down 27.41% over the past 7 days. Anyone who was going to sell has probably already exited; those who remain seem more reluctant to cut their losses.
Honestly, I’m willing to put on a position here.
Why is the stop loss so tight?
At 0.177707, it’s 1.60% below the current price, just below the 20-day low of 0.1786. If the price breaks below that, it means there’s no support underneath, and I’ll accept the loss.
The take-profit at 0.208721 is 15.57% above the current price. I’m not being greedy—I’ll exit when it gets back to the lower edge of the previous range.
Both the take-profit and stop-loss are within the daily average volatility of 15.57%. That’s the rule behind how I set these levels: as long as the move stays within the average daily volatility, the position has a chance to survive.
The order book is thin here, and liquidity is low, so wicks are common. That’s why I’m not widening the stop loss.
The risk-reward ratio for this trade is about 9.72.
What do you think? Let’s talk in the comments.
$DOS $USELESS #GRVT #DOS #Cryptocurrency
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.