WAVES/USDT
🟢entry: 65.540-56.660
❌stoploss: 70.060
🎯tp1: 33.880-31.560
🔼potential %profit: +44.55%
🔽potential %loss: -16.30%
r/r: 2.73
🐹the market has begun showing signs of a short term correction. waves has grown +275% through out the month of march. price is now beginning to form a zone of distribution. it is time to short.
high probability: price makes one more push up and wicks near/above the current high.
med probability: price moves down without another wick up.
low probability: price continues to make new highs.
based on these scenarios, i will layer half of the position in the annotated box and i will enter half of the position near market price. stop-loss is above the high, with enough breathing room for potential volatility near the high. take-profit is at the most recent origin of break-out. trailing stop-loss will be added once the position begins to move into profit.
✌️all good luck and always practice strict risk management.
🟢entry: 65.540-56.660
❌stoploss: 70.060
🎯tp1: 33.880-31.560
🔼potential %profit: +44.55%
🔽potential %loss: -16.30%
r/r: 2.73
🐹the market has begun showing signs of a short term correction. waves has grown +275% through out the month of march. price is now beginning to form a zone of distribution. it is time to short.
high probability: price makes one more push up and wicks near/above the current high.
med probability: price moves down without another wick up.
low probability: price continues to make new highs.
based on these scenarios, i will layer half of the position in the annotated box and i will enter half of the position near market price. stop-loss is above the high, with enough breathing room for potential volatility near the high. take-profit is at the most recent origin of break-out. trailing stop-loss will be added once the position begins to move into profit.
✌️all good luck and always practice strict risk management.
Comment:
closed at +40%. that was fun. love when it works out like that :)