To all my fellow traders, times are tough if you had the mentality of Diamond Hands: A narrative painted and believed by millions. You need to understand, that this market is like any other. We have cycles. Thinking that we will only go up is naive, to say the least. I hope that through this experience we learn when to get out - as to when we in profit and when we are in a loss. I had to learn this the hard way of course.
Anyways enough venting and back to charts.
DOT has reached in my opinion a level of Support that was reached on the 23rd of feb. before retracing all the way up back to the $23 level. That is a 67% gain and worth a trade to get into in my opinion. A healthy R: R in my opinion.
Obv that is the HomeRun level we would desirable want to reach but. Like eating a cake - we do it piece by piece, having TPs along the way. As indicated by each yellow horizontal line, is a TP level and Sl will be adjusted as we go along.
Currently up 5 % but skeptical that this is just a Lower High being formed. Non the less I am risking 1 % of my capital on this trade if SL is hit my psychology will be OK with that.
PS: This is in no way financial advice (only my perspective)
To all the traders out there. Stay calm and focus on risk management.
Anyways enough venting and back to charts.
DOT has reached in my opinion a level of Support that was reached on the 23rd of feb. before retracing all the way up back to the $23 level. That is a 67% gain and worth a trade to get into in my opinion. A healthy R: R in my opinion.
Obv that is the HomeRun level we would desirable want to reach but. Like eating a cake - we do it piece by piece, having TPs along the way. As indicated by each yellow horizontal line, is a TP level and Sl will be adjusted as we go along.
Currently up 5 % but skeptical that this is just a Lower High being formed. Non the less I am risking 1 % of my capital on this trade if SL is hit my psychology will be OK with that.
PS: This is in no way financial advice (only my perspective)
To all the traders out there. Stay calm and focus on risk management.