Everyone, I’m preparing to open a large long position on $LIT .
Take profit: 3.3344
Stop loss: 3.1501 👇
You may be wondering an obvious question: why am I going long at this level?
Let’s look at the levels first. The 20-day daily-boundary range is 2.5862 to 3.985,
with the current price of 3.1825 at the 42.5th percentile. There’s no support above, and little has accumulated below either.
The latest 15-minute candle closed at 3.1825. It’s moved just 4.83% in the past seven days. After grinding sideways for seven days without breaking down, this isn’t a market I want to be on the short side of.
Honestly, at first glance I thought I was looking at the wrong timeframe. I checked twice before believing it had moved so little in seven days—it’s like that machine downstairs running idle nonstop.
Tonight, liquidity is flowing into the popular sectors, while things are quiet over here.
Take profit at 3.3344, +4.77% from the current price. I’ve used the smaller of the 12-hour countertrend extreme and the average daily volatility.
Stop loss at 3.1501, -1.02% from the current price. I’ve left a 0.5% buffer beyond the 6-hour extreme. I’d rather get stopped out than stubbornly hold on.
Based on these levels, the risk-to-reward ratio for this trade is 4.68.
Average daily volatility, calculated using daily-boundary ATR(14), is 11.42%. All these levels are within that range.
That’s the level-setting discipline I stick to: widening the levels is just asking for trouble.
If it breaks below the stop, I’ll take the loss and exit. If it hits the take profit, I’ll call it a day. No meddling in between.
Do you think this is a worthwhile level to enter at? Share your thoughts in the comments.
$BTC $ETH
#LIT #比特币 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
Take profit: 3.3344
Stop loss: 3.1501 👇
You may be wondering an obvious question: why am I going long at this level?
Let’s look at the levels first. The 20-day daily-boundary range is 2.5862 to 3.985,
with the current price of 3.1825 at the 42.5th percentile. There’s no support above, and little has accumulated below either.
The latest 15-minute candle closed at 3.1825. It’s moved just 4.83% in the past seven days. After grinding sideways for seven days without breaking down, this isn’t a market I want to be on the short side of.
Honestly, at first glance I thought I was looking at the wrong timeframe. I checked twice before believing it had moved so little in seven days—it’s like that machine downstairs running idle nonstop.
Tonight, liquidity is flowing into the popular sectors, while things are quiet over here.
Take profit at 3.3344, +4.77% from the current price. I’ve used the smaller of the 12-hour countertrend extreme and the average daily volatility.
Stop loss at 3.1501, -1.02% from the current price. I’ve left a 0.5% buffer beyond the 6-hour extreme. I’d rather get stopped out than stubbornly hold on.
Based on these levels, the risk-to-reward ratio for this trade is 4.68.
Average daily volatility, calculated using daily-boundary ATR(14), is 11.42%. All these levels are within that range.
That’s the level-setting discipline I stick to: widening the levels is just asking for trouble.
If it breaks below the stop, I’ll take the loss and exit. If it hits the take profit, I’ll call it a day. No meddling in between.
Do you think this is a worthwhile level to enter at? Share your thoughts in the comments.
$BTC $ETH
#LIT #比特币 #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
