Fairly bullish on LINK, holding up better in correction compared to BTC and ETH by a few percentage points.
ALso, technically looking stronger on the charts.
I think a fairly good probability of a retest of the highs fairly soon ( 60% ).
So, I have a scale-in buy strategy in 3 instalments...the first trade assuming investing 20K here.
is:
1. buy 600 shares ( 1/6 total position size) market around 3.97
2. buy another 600 at 3.83 for an average first 1/3 instalment of 3.90
3. If runs to target at highs of 4.17 take full profit
second scenario
4. if corrects further down -7% enter again at 3.63 another 1/3 or 1200 shares
5. Hold until makes a profit on average price at 3.763 for +7% or 4.027
third scenario
6. if corrects a further -7% enter again etc and take profit on whole average price at +7%
There is no stop-loss on this strategy because it is based on probabilities only and this is risk capital. I believe it will retest those highs even in a catastrophic loss in the next 3-6 months and I'm happy to HODL.
Trade closed: target reached
made a safe, but perhaps conservative profit here...waiting for next pull-backset up for another long trade leg up...
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.