SHIB bouncing off a support zone. Looking to build a position with a stop below that zone.
Comment:
Price has dropped down to the support zone.
Unfortunately SHIB hasn't been rallying with the other cryptos today.
My bias remains bullish long-term as long as the support zone continues to hold. Short-term I'm neutral. SHIB may consolidate here for a while.
Using my capital on other coins for now as ETH, BNB, DOT, FTM, AVAX, KDA all looking much more bullish
Happy to buy if I can get a 1:3 or better to the closest high
A break of the recent lower highs makes me more bullish in the short-term
Unfortunately SHIB hasn't been rallying with the other cryptos today.
My bias remains bullish long-term as long as the support zone continues to hold. Short-term I'm neutral. SHIB may consolidate here for a while.
Using my capital on other coins for now as ETH, BNB, DOT, FTM, AVAX, KDA all looking much more bullish
Happy to buy if I can get a 1:3 or better to the closest high
A break of the recent lower highs makes me more bullish in the short-term
Trade closed: stop reached:
Price has broken below the support level.
I am no longer looking to buy.
Total return -1% on 1 attempt to go long
I am no longer looking to buy.
Total return -1% on 1 attempt to go long
Comment:
This has become a great demonstration of why I must follow good risk management.
A blind buy and hold approach would have resulted in a 40% loss of equity
Using proper risk management my overall loss was 1% of my account
A blind buy and hold approach would have resulted in a 40% loss of equity
Using proper risk management my overall loss was 1% of my account
-1%