ch715t0

Is it FUN? Small movements = small profits to be made?

BITFINEX:FUNBTC   FUN / Bitcoin
Again, as always, this is an education idea whereby I am learning more about charting and reading data. Trading will be closed if the coin is pumped or BTC             moves a high percentage as this creates uncertainty and makes my chart invalid. My trading theory is based on the current state of FUN and the market as a whole. FunFair (FUN) has been loosing market dominance slowly over the past week or so, and has a trading window where up to 10% can be made on swings per swing.

On 31st January, FUN will be submitted to the UK Gambling Commission for a Remote Gambling Software License. This could be a good turning point for FUN (via hype generated) and potentially creates a safe exit if you are swing trading and the market moves in a negative way. I traded fun between 870 and 950 twice within this channel and have seen ~8-9% returns inc. fees per swing. I am currently watching for another entry point, but would consider 880 as a risk due to the last dip going as low as 833. I don't think hard support has moved with FUN as all coins moved with the BTC             dip, and FUN still retained dominance. I will be looking to enter around 870 again, but will be trading active with alerts set at 900, and 950.
Comment: Entered at 860 sats
Trade closed manually: Had a spike to exit over 900 and make profit, but as BTC moved, this idea became invalid, like stated in the description.
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