I watched it for half an hour and still didn’t dare pull the trigger. I’m expecting to open a long position on $UAI now.
Take profit: 0.03224
Stop loss: 0.029691 👇
You may be wondering an obvious question: why am I going long at this level?
It just took a major hit, down 32.66% over 7 days, with its 20-day range squeezed to the 0.5th percentile. The disagreement between bulls and bears is narrowing. It’s like a rebound after the sell-off has run its course, so I’m actually willing to buy in here.
At first glance, I thought I’d read it wrong. I checked twice before believing this coin could bounce near the lower end. It hasn’t broken to a new low, so I’m only testing the waters with a small position on this trade.
For this trade, I’ve kept both my take-profit and stop-loss within the daily average volatility. The coins are changing hands at low levels, but liquidity is still holding up. The take-profit is 6.79% from the current price, while the stop-loss leaves just a 1.65% buffer. The risk-reward ratio is about 4.11, so I’ll only pull the trigger when the odds make sense.
This market is as thin as a sheet of paper, but the price level matters more than the story. I’ll keep watching for now.
What do you all think of this level? Let’s discuss in the comments.
$XRP $TRX
#UAI #XRP #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
Take profit: 0.03224
Stop loss: 0.029691 👇
You may be wondering an obvious question: why am I going long at this level?
It just took a major hit, down 32.66% over 7 days, with its 20-day range squeezed to the 0.5th percentile. The disagreement between bulls and bears is narrowing. It’s like a rebound after the sell-off has run its course, so I’m actually willing to buy in here.
At first glance, I thought I’d read it wrong. I checked twice before believing this coin could bounce near the lower end. It hasn’t broken to a new low, so I’m only testing the waters with a small position on this trade.
For this trade, I’ve kept both my take-profit and stop-loss within the daily average volatility. The coins are changing hands at low levels, but liquidity is still holding up. The take-profit is 6.79% from the current price, while the stop-loss leaves just a 1.65% buffer. The risk-reward ratio is about 4.11, so I’ll only pull the trigger when the odds make sense.
This market is as thin as a sheet of paper, but the price level matters more than the story. I’ll keep watching for now.
What do you all think of this level? Let’s discuss in the comments.
$XRP $TRX
#UAI #XRP #Cryptocurrency
The above is a record of my personal trading system and data observations, and does not constitute investment advice.
