Short Term Trade: Factom Mountain Man
Updated
Factom just dipped to the 61.8% Fibonacci Retracement level on the local high. Good opportunity to get in cheap and hold until time is ripe to trade back in for BTC.
Trade active
After getting in on the bid below 61.8%, I realized that the market cap of this coin is <$25 million and therefore below the threshold I usually set for trading Altcoins. Less volume equals more random movements that don't follow the usual technical signals. I'll see how it goes before exiting this trade.Trade closed manually
Went back up to 38.2% within an hour so it performed as it should have given the technical signals. Not enough volume on this coin to justify staying in. Will book profits.
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