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