$STX has fallen for seven straight days. Can it still be bought at this level? I’m planning to go long here.
Take profit: 0.3054
Stop loss: 0.284172
👇
You may be wondering the obvious question: why am I going long at this level?
First, the direction. The 20-day range is 0.2659 to 0.3648, and the current price is at the 24.8th percentile—much farther from the upper boundary than from the floor.
This market has fallen for seven days, and the people waiting below have already had a turnover. With the positions changing hands, support is actually more solid.
Based on the 15-minute chart, the last candle closed at 0.2904. There’s still some distance to the 20-day floor, so there’s no need to chase the sell-off.
Buying into a sell-off is like reaching into a fast-flowing stream to grab something. I don’t dare buy it all at once right now.
Both the take-profit and stop-loss are within the daily average volatility. ATR is 9.49%; take profit is +5.17%, and stop loss is -2.14%.
The risk-reward ratio on this trade is 2.41.
After seven days, it’s down more than 14 points. The whole market is falling into the same pit, and $BNB and $TRX haven’t escaped either.
At first glance, I thought the floor was about to break. I checked twice before I dared to set up the trade this way.
If the floor really breaks, I’ll accept the loss. When liquidity gets thin, stop-loss orders can suffer slippage.
Honestly, my hand is shaking going long during a sell-off like this.
What do you all think of this trade?
#STX #BNB #cryptocurrency
The above is a record of my personal trading system and observations of data. It does not constitute investment advice.
Take profit: 0.3054
Stop loss: 0.284172
👇
You may be wondering the obvious question: why am I going long at this level?
First, the direction. The 20-day range is 0.2659 to 0.3648, and the current price is at the 24.8th percentile—much farther from the upper boundary than from the floor.
This market has fallen for seven days, and the people waiting below have already had a turnover. With the positions changing hands, support is actually more solid.
Based on the 15-minute chart, the last candle closed at 0.2904. There’s still some distance to the 20-day floor, so there’s no need to chase the sell-off.
Buying into a sell-off is like reaching into a fast-flowing stream to grab something. I don’t dare buy it all at once right now.
Both the take-profit and stop-loss are within the daily average volatility. ATR is 9.49%; take profit is +5.17%, and stop loss is -2.14%.
The risk-reward ratio on this trade is 2.41.
After seven days, it’s down more than 14 points. The whole market is falling into the same pit, and $BNB and $TRX haven’t escaped either.
At first glance, I thought the floor was about to break. I checked twice before I dared to set up the trade this way.
If the floor really breaks, I’ll accept the loss. When liquidity gets thin, stop-loss orders can suffer slippage.
Honestly, my hand is shaking going long during a sell-off like this.
What do you all think of this trade?
#STX #BNB #cryptocurrency
The above is a record of my personal trading system and observations of data. It does not constitute investment advice.
