Everyone, I’m planning to open a large short position on $VVV .
Take profit: 22.914
Stop loss: 23.8909 👇
You may be wondering the obvious question: why am I shorting at this level?
First, the direction.
Down 5.90% over the past 7 days, with a daily range of 20.944 to 28.357.
The current price sits at the 37.4th percentile. It’s not especially high, but the trend has been steadily downward.
Now, why choose this particular line?
From the peak at 28.357, it’s been stepping downward. Three rebounds have all failed to reclaim the previous level, and each move has been weaker than the last.
At first glance, I thought I was seeing it wrong. I pulled up the 15-minute chart and checked twice before I believed it.
There’s no disagreement among the bears; as the price moves down, nobody is willing to step in and buy.
So why are the take-profit and stop-loss levels set so close together?
Because there’s only 0.65% of room left before the stop loss.
Setting the levels is like managing a reservoir gate: the opening is carefully measured. Open it just a little more, and you’ll flood yourself.
The average daily volatility, based on the daily ATR14, is 10.28%. The take-profit at 22.914 is -3.46% from the current price,
while the stop loss at 23.8909 is +0.65% from the current price. Both levels are entirely within this range.
The holders above haven’t sold off, and the reservoir’s water level is still falling.
Risk/reward ratio: 5.31.
Anyone holding coins that keep slowly bleeding lower? Let’s talk in the comments.
$XRP POWR
Related coins: $BTC
#VVV #XRP #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
Take profit: 22.914
Stop loss: 23.8909 👇
You may be wondering the obvious question: why am I shorting at this level?
First, the direction.
Down 5.90% over the past 7 days, with a daily range of 20.944 to 28.357.
The current price sits at the 37.4th percentile. It’s not especially high, but the trend has been steadily downward.
Now, why choose this particular line?
From the peak at 28.357, it’s been stepping downward. Three rebounds have all failed to reclaim the previous level, and each move has been weaker than the last.
At first glance, I thought I was seeing it wrong. I pulled up the 15-minute chart and checked twice before I believed it.
There’s no disagreement among the bears; as the price moves down, nobody is willing to step in and buy.
So why are the take-profit and stop-loss levels set so close together?
Because there’s only 0.65% of room left before the stop loss.
Setting the levels is like managing a reservoir gate: the opening is carefully measured. Open it just a little more, and you’ll flood yourself.
The average daily volatility, based on the daily ATR14, is 10.28%. The take-profit at 22.914 is -3.46% from the current price,
while the stop loss at 23.8909 is +0.65% from the current price. Both levels are entirely within this range.
The holders above haven’t sold off, and the reservoir’s water level is still falling.
Risk/reward ratio: 5.31.
Anyone holding coins that keep slowly bleeding lower? Let’s talk in the comments.
$XRP POWR
Related coins: $BTC
#VVV #XRP #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
