Lisk / BitcoinLong
Lisk is Approaching Support - R/R Looks Good
Updated
Disclaimer: I am not trading this idea, but think Lisk is setting up for a fairly low risk trade. I am aware of the re-brand, but haven't looked too closely at other factors that could justify this long trade. I am also long BTC and another rally could mean that alts will continue downward.
Those of you that like/trade Lisk, feel free to contribute any fundamentals that either confirm or contradict this idea.
Those of you that like/trade Lisk, feel free to contribute any fundamentals that either confirm or contradict this idea.
Note
To mitigate risk, I would limit position size to 3.5% of your account (0.5% risk).Note
Lisk is currently in both a daily and weekly downtrend, and both are about to expire. We can split this idea into two trades (risking 0.25% per trade) and use wide stops to avoid being left behind in the event of a quick bounce/not reaching our downtrend target.1. Buy at 0.00073601. Leave stop where it is. Position size 1.13%
2. Reduce the original buy order (at 0.00066903) to 1.75% of account
Note
Well I nailed the trade, but the stop was too tight. Lesson learned; would've been a good one.
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