Everyone, I’m planning to open a large long position at $SOON .
Take profit: 0.2575
Stop loss: 0.226163 👇
You may be wondering the obvious question: why go long at this price?
It’s fallen far enough.
The 20-day range is 0.2273 to 0.3463. The current price of 0.2289 is right near the bottom, at just the 1.3th percentile.
It’s down a decisive 26.21% over the past seven days.
So why not wait for it to go even lower?
Because the latest 15-minute candle closed at 0.2289, and the low over the next six hours, with an additional 0.5% buffer, comes to 0.226163.
At first glance, I thought I’d read the timeframe wrong. I checked twice before I believed it.
The take-profit at 0.2575 is 12.49% above the current price, while the stop loss at 0.226163 is 1.20% below it.
Both are within the average daily volatility of 16.47%.
I won’t break my rule of keeping my entry within the volatility range; otherwise, the risk-reward ratio is meaningless.
The risk-reward ratio on this trade is about 10.45.
There are only a few plates to serve the food on.
Setting up a long position is like waiting downstairs for a car to come to a full stop. If you rush to get in, you could get your fingers caught.
In the same batch, $BNB has moved only a fraction of a percentage point, and $BTC is also stuck in a narrow range. The money hasn’t left the track; it’s just looking for a way in at this level.
That’s where opinions differ: some think the lower bound will break, while I’m watching for support and the release of accumulated positions.
Where would you place this trade? Let me know in the comments.
#SOON #BNB #Cryptocurrency
The above is a record of my personal trading system and observations of data; it does not constitute investment advice.
Take profit: 0.2575
Stop loss: 0.226163 👇
You may be wondering the obvious question: why go long at this price?
It’s fallen far enough.
The 20-day range is 0.2273 to 0.3463. The current price of 0.2289 is right near the bottom, at just the 1.3th percentile.
It’s down a decisive 26.21% over the past seven days.
So why not wait for it to go even lower?
Because the latest 15-minute candle closed at 0.2289, and the low over the next six hours, with an additional 0.5% buffer, comes to 0.226163.
At first glance, I thought I’d read the timeframe wrong. I checked twice before I believed it.
The take-profit at 0.2575 is 12.49% above the current price, while the stop loss at 0.226163 is 1.20% below it.
Both are within the average daily volatility of 16.47%.
I won’t break my rule of keeping my entry within the volatility range; otherwise, the risk-reward ratio is meaningless.
The risk-reward ratio on this trade is about 10.45.
There are only a few plates to serve the food on.
Setting up a long position is like waiting downstairs for a car to come to a full stop. If you rush to get in, you could get your fingers caught.
In the same batch, $BNB has moved only a fraction of a percentage point, and $BTC is also stuck in a narrow range. The money hasn’t left the track; it’s just looking for a way in at this level.
That’s where opinions differ: some think the lower bound will break, while I’m watching for support and the release of accumulated positions.
Where would you place this trade? Let me know in the comments.
#SOON #BNB #Cryptocurrency
The above is a record of my personal trading system and observations of data; it does not constitute investment advice.
