Altcoins have been inching their way deeper into my trading routine and this seventh entry of the crypto trading journal features a newly opened position on VeChain, as well as a timely buy of Stellar Lumens.
I am still long on Bitcoin from under $9,000, as price moves sideways.
In a move this large and fast based on news, the price was unlikely to retest over a longer period of time, so I was willing to trade this smaller time frame.
In an effort to catch a second pump, I reentered at.00000870 but ultimately stopped out of this trade with the entire position at that same line when the price dropped.
Risk / reward: Target 1 = 8.94, Target 2 = 15.5.Entry Idea.This is effectively a second round of the same trade, with the first retest of the.00000797 line on a larger time frame.
Risk / reward: Target 1 = 8.94, Target 2 = 15.5.Entry Idea.VET has historically been one of my favorite assets to trade, so I have been watching it for months.
Like the XLM trade above, I waited for a retest of resistance as support to enter.
I will keep this trade open for as long as Bitcoin remains stable.
BTC/USD updateI stopped out of my two-week-long Bitcoin trade at a small loss this morning when the range lows were broken.
In retrospect, I should have exited when the price was clearly rejected at the equilibrium of the trading range.
Bitcoin Price Diary: Long Bitcoin, Bullish on Altcoins
Published on Nov 8, 2019
by Cointele | Published on Coinage
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