Interesting set up on
INJ
10 month moving average appears to be holding up price.
There is some nice confluence between the parallel channels and fib ext levels.
10:1 + risk reward
(STOP @$15.00)
High risk play so position should be small
God speed
PUKA
10 month moving average appears to be holding up price.
There is some nice confluence between the parallel channels and fib ext levels.
10:1 + risk reward
(STOP @$15.00)
High risk play so position should be small
God speed
PUKA
Comment:
WE can always reenter..... and you can always enter at the 21 day SMA however you need to allow a wide stop for alts... 10 - 20 % thus the position should be Much much smaller
I took a small position on this one. Strong 100% + move at present.
Raising my stop to $32.00 (75% profit level). Here @ $32.00 I would exit 75% of my position (which also allows for 24% pull back - standard on alts)
If the stop is triggered @ $32.00, I will have taken out my original stake with a 31% profit whilst allowing for another the remining 25% of the position to run to who knows where.
I might change my position on this at a later date. I will be monitoring the 21 day moving average also for a trigger exit or entry for those interested, however, i feel like we need to be looking at the exits now, HOWEVER, there is no guarantee... with a BTC ETF approval the market could ramp. Alts look great atm but we MUST expect a harsh 30 -50% pull back at some stage over coming two months. This why stops to protect your gains is so vital.
PUKA