A coin that rose 86.76% in a day, and I’m still thinking about going long—doesn’t that sound a little crazy? $SHELL is quoted at 0.0364. It surged from 0.0186 to 0.0516 in 24 hours, then gave some of it back. It’s also down 9.49% in the past hour. Anyone who bought near the top is in the toughest spot now: sell and risk missing a rebound, or hold and risk giving back even more.
In plain English: with a rally like this, a pullback isn’t a bad thing. What’s truly dangerous is chasing the top and then being too reluctant to get out. 0.0351 is the midpoint of the 24-hour move. If it holds, this rally may not be over yet; if it doesn’t, it may have been here and gone in a flash.
Direction: Watch for a long opportunity—don’t jump in right now. Reference range: 0.0351–0.0400. Invalidation level: a break below 0.0351. Target: 0.0516. Risk level: high. Based on the current price of 0.0364, the potential loss to the invalidation level is about 0.0013, while the potential gain to the target is about 0.0152, for a risk-reward ratio of approximately 11.7.
With a risk-reward ratio like that, would you take a shot—or rather sit it out?
For reference only; not investment advice. Pay attention to position sizing.
$SHELL
#SHELL #MarketAnalysis
In plain English: with a rally like this, a pullback isn’t a bad thing. What’s truly dangerous is chasing the top and then being too reluctant to get out. 0.0351 is the midpoint of the 24-hour move. If it holds, this rally may not be over yet; if it doesn’t, it may have been here and gone in a flash.
Direction: Watch for a long opportunity—don’t jump in right now. Reference range: 0.0351–0.0400. Invalidation level: a break below 0.0351. Target: 0.0516. Risk level: high. Based on the current price of 0.0364, the potential loss to the invalidation level is about 0.0013, while the potential gain to the target is about 0.0152, for a risk-reward ratio of approximately 11.7.
With a risk-reward ratio like that, would you take a shot—or rather sit it out?
For reference only; not investment advice. Pay attention to position sizing.
$SHELL
#SHELL #MarketAnalysis