Let's get back to OP and see what it can offer us.
Personally thinking OP is going back to around 1$. We CAN have ideas and biases but we CANNOT IMPOSE THEM ON THE MARKET. So let's see what PA is telling us.
Shorted OP at market (average price of 16589$) and added some more already to my position. Personally targeting 1.20$ -1$. Stop laying around 1.80$ for now and will look to reduce size if we reclaim 1.70$
IF we break and hold below 1.6360$ I will look to add some more size. Day trades can be taken within these ranges as long as our rules are respected - will SURELY make use of that opportunity to add even more size on the ''BIG'' swing trade idea.
IF BTC continues its downtrend so will OP. Being an alt coin it will go even faster and nicer PA wise.
Entry market (aggressive) entry below 1.6360$ (conservative)
TP 1.20$
TP 1$
SL 1.80$
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
Personally thinking OP is going back to around 1$. We CAN have ideas and biases but we CANNOT IMPOSE THEM ON THE MARKET. So let's see what PA is telling us.
Shorted OP at market (average price of 16589$) and added some more already to my position. Personally targeting 1.20$ -1$. Stop laying around 1.80$ for now and will look to reduce size if we reclaim 1.70$
IF we break and hold below 1.6360$ I will look to add some more size. Day trades can be taken within these ranges as long as our rules are respected - will SURELY make use of that opportunity to add even more size on the ''BIG'' swing trade idea.
IF BTC continues its downtrend so will OP. Being an alt coin it will go even faster and nicer PA wise.
Entry market (aggressive) entry below 1.6360$ (conservative)
TP 1.20$
TP 1$
SL 1.80$
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.