$INIT is up 61.4 percent today. That is why I am passing on it right now
Buying here means buying straight from whoever bought near the low of 0.11940
The hourly RSI sits at 75 so momentum is fully stretched
Hourly ATR is 7.8 percent of price which means any tight stop gets wiped out by normal noise
I only change my mind if we get an hourly close and hold above 0.20700
Or if a pullback holds the 0.11940 low and bounces
It could keep running without me because a bad entry always costs more than a missed move
Chasing $INIT here, or waiting for 0.11940
#INIT #RiskManagement
Buying here means buying straight from whoever bought near the low of 0.11940
The hourly RSI sits at 75 so momentum is fully stretched
Hourly ATR is 7.8 percent of price which means any tight stop gets wiped out by normal noise
I only change my mind if we get an hourly close and hold above 0.20700
Or if a pullback holds the 0.11940 low and bounces
It could keep running without me because a bad entry always costs more than a missed move
Chasing $INIT here, or waiting for 0.11940
#INIT #RiskManagement