During the hour starting at 23:00 last night, MBL surged from 0.000758 to 0.001381. It’s now at 0.000947, giving back most of its gains.
Each rebound since then has been lower than the last: 0.001260, 0.001100, and 0.001060, with volume also declining. After such a sharp rally, I’d rather see it return to its previous trading range, where it moved sideways at 0.000720–0.000860 for the three weeks before that.
I’ll wait for it to return to 0.000850–0.000880 before adding a little spot. That was the high it failed to break through several times in late September. I’ll keep the position small, set a stop-loss at 0.000805, and look first for 0.000980, then 0.001100. If a 4H candle closes below 0.000810, I’m out.
Just my personal opinion, not investment advice.
$MBL
Each rebound since then has been lower than the last: 0.001260, 0.001100, and 0.001060, with volume also declining. After such a sharp rally, I’d rather see it return to its previous trading range, where it moved sideways at 0.000720–0.000860 for the three weeks before that.
I’ll wait for it to return to 0.000850–0.000880 before adding a little spot. That was the high it failed to break through several times in late September. I’ll keep the position small, set a stop-loss at 0.000805, and look first for 0.000980, then 0.001100. If a 4H candle closes below 0.000810, I’m out.
Just my personal opinion, not investment advice.
$MBL