I'm thinking out loud while looking at #Ethereum in the major trend... $ETH
It has returned to its main rising trend, which has been supported for about 15 months, and has also received a partial upward reaction.
Market makers like to hit the heads of technical analysis users like us with such long-running trends. There is a possibility that such a scenario may occur here as well. In this direction; The price may drop below $1500 to get trend liquidity.
This means a 9% loss for a long position that can be taken here. If I open a 10x position and stop, there is a 90% loss. Aboo, so...
What should I do then...
Of course, gradual position... Since I don't have very large positions, let me take my first stage position from here. It just so happens that if the price continues to pull back, I'll buy my tier 2 at $1510. In this scenario, if I don't get what I want and stop, I will lose approximately 4.5%. Of course, there is also 10x. So I have a 45% chance of losing from this trade. The risk is still high...
However, I trust #ETH because it is a major coin. Also, if there is an upward reaction, I target;
TP1: $1735
TP2: $1825
if eats TP3: $1999
So, if the levels I want reach the levels I want, I will make an average profit of 8.5-9%. For a 10x position it would be 85-90%. So, there is a possibility that I can risk 1R and earn 2R.
Yes, this will be the trade I will make... By the way, let me remind myself that I only use 20% of my futures deposit, so that I do not make the mistake of entering an all-in position.
We have come to the end of the thought out loud. Thank you for taking the time to read...