The 618 fibonacci falls on previous resistance which should now provide support.
I prefer to scale into a new long position from the 0.50 to the 0.618 fib with a stop just below the 0.786 fib.
If you are a student you can fill in the low and the high of the elephant wave in the Excel sheet to check your risk levels.
Generally we like to trade while risking no more then 3% of a trading account on any trade.
When our long position reaches a profit at the 0.382 fibonacci level I will secure my position.
Depending on the used strategy, you can take full profit or just close half the position for a quick profit and setting a stop at break even for the remaining position.
Whatever trade you choose to make, always make sure you realize the risk levels.
We have recently openend a free discord channel to promote our trading club.
(no signup required)
In the channel students can discuss trades and all the crypto news and we as founders try to support them as best we can and demonstrate our skills to traders that are new to coinstreet.
The ETF decision
Coinstreet.NL
I prefer to scale into a new long position from the 0.50 to the 0.618 fib with a stop just below the 0.786 fib.
If you are a student you can fill in the low and the high of the elephant wave in the Excel sheet to check your risk levels.
Generally we like to trade while risking no more then 3% of a trading account on any trade.
When our long position reaches a profit at the 0.382 fibonacci level I will secure my position.
Depending on the used strategy, you can take full profit or just close half the position for a quick profit and setting a stop at break even for the remaining position.
Whatever trade you choose to make, always make sure you realize the risk levels.
We have recently openend a free discord channel to promote our trading club.
(no signup required)
In the channel students can discuss trades and all the crypto news and we as founders try to support them as best we can and demonstrate our skills to traders that are new to coinstreet.
The ETF decision
Coinstreet.NL