Everyone, I’ve identified an opportunity to open a large long position at $BTW .
Take profit: 1.684
Stop loss: 1.3819 👇
You might be wondering the obvious question: why go long here?
This is a level I’m willing to take a chance on.
Over the past 20 days, the daily range has been 1.1859 to 2.7536. At the current price of 1.4034, we’re only at the 13.9th percentile, and the price has dropped 24.13% in seven days.
I had to double-check that drop before I believed it. The sell-off has shaken out weak hands, and we’re only now starting to see buyers step in at this level.
Going long isn’t about chasing prey; it’s about waiting along the path prey has to take.
Take profit at 1.684, up 19.99% from the current price. This is based on the lower of the 12-hour countertrend extreme and the average daily volatility.
Stop loss at 1.3819, down 1.54% from the current price, with a 0.5% buffer beyond the six-hour extreme.
Average daily volatility is 40.96%. Both the take-profit and stop-loss are within that range, so that’s the size of the bet I’m making on this trade.
This market has enough daily turnover to make entering and exiting easy. I’ve checked the liquidity.
The latest 15-minute candle closed at 1.4034. Price hasn’t moved, and the level is holding.
The risk-reward ratio is about 13.02. The odds speak for themselves.
Do you think this level will hold? Let’s discuss in the comments.
$BANK $USDBRL
#BTW #BANK #Crypto
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
Take profit: 1.684
Stop loss: 1.3819 👇
You might be wondering the obvious question: why go long here?
This is a level I’m willing to take a chance on.
Over the past 20 days, the daily range has been 1.1859 to 2.7536. At the current price of 1.4034, we’re only at the 13.9th percentile, and the price has dropped 24.13% in seven days.
I had to double-check that drop before I believed it. The sell-off has shaken out weak hands, and we’re only now starting to see buyers step in at this level.
Going long isn’t about chasing prey; it’s about waiting along the path prey has to take.
Take profit at 1.684, up 19.99% from the current price. This is based on the lower of the 12-hour countertrend extreme and the average daily volatility.
Stop loss at 1.3819, down 1.54% from the current price, with a 0.5% buffer beyond the six-hour extreme.
Average daily volatility is 40.96%. Both the take-profit and stop-loss are within that range, so that’s the size of the bet I’m making on this trade.
This market has enough daily turnover to make entering and exiting easy. I’ve checked the liquidity.
The latest 15-minute candle closed at 1.4034. Price hasn’t moved, and the level is holding.
The risk-reward ratio is about 13.02. The odds speak for themselves.
Do you think this level will hold? Let’s discuss in the comments.
$BANK $USDBRL
#BTW #BANK #Crypto
The above is a record of my personal trading system and observations of market data. It does not constitute investment advice.
