SHORTING BAND @2.0991, EXPECTING NEW LOWS AROUND 0.83
Updated
This trade is based on the overall direction of the crypto market.
I searched for a high quality short as the short ambassador of the next downwards impulse I am expecting.
BAND being a low-cap (no idea if it is a shitcoin or not) and highly volatile and highly responsive to market movements (high downwards Beta), I chose it.
Seems like it is likely to make new lows in respect to 2022 prices. 0.80-0.90 would be highly probable in some weeks.
Then again, I will look to long this as it can make 5-10x from there.
Then again, I use very low leverage <1x and willing to go up to 1.5x on the short if the chart looks reasonable (with reasonable stop).
Batch 1 is GO.
I searched for a high quality short as the short ambassador of the next downwards impulse I am expecting.
BAND being a low-cap (no idea if it is a shitcoin or not) and highly volatile and highly responsive to market movements (high downwards Beta), I chose it.
Seems like it is likely to make new lows in respect to 2022 prices. 0.80-0.90 would be highly probable in some weeks.
Then again, I will look to long this as it can make 5-10x from there.
Then again, I use very low leverage <1x and willing to go up to 1.5x on the short if the chart looks reasonable (with reasonable stop).
Batch 1 is GO.
Trade active
Started declining right away. 6.5% return reached.Built a stop-loss at around 2.45
Then again disclaimer: I use very low leverage <1x and willing to go up to 1.5x on the short if the chart looks reasonable (with reasonable stop).
Trade closed manually
Closing the trade manually here at close to breakeven to reduce short exposure to the market.It seems there is some strength in the market and I am going neutral.
Overall, in the last week we achieved 36% return.
(LIT long brought 35% + DOGE short 2% and BAND -1%)
Cheers.
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