ONDO Spot Long Idea
Rationale: ONDO has been one of the cleanest markets to trade as of late. Oracle / RWA narrative has been consistent and should continue through this cycle. Although we not get this pullback, I want to have bids set as I feel it needs to occur at some point for continuation (up) to occur. The price objective from a market markers PoV is to take out the lows from earlier this week (highlighted in purple) after price had leveled up out of its prior consolidation area (0.3-.34).
Details:
Trade Vehicle: Spot (no leverage)
Trade Type: Swing (Holding for one day +)
Entry: 0.375 - 0.355
Stop Loss: A 1 Hour candle close below 0.31
Take Profit Levels: TBD
Macro Considerations:
Trading on the weekend is more risky as there is less participants (liquidity) and can create bigger moves, hence the reason to pass on a leveraged trade. BTC is also in a state of indecision where the current expectation (general sentiment) is for a move down to $48-46k).
Details:
Trade Vehicle: Spot (no leverage)
Trade Type: Swing (Holding for one day +)
Entry: 0.375 - 0.355
Stop Loss: A 1 Hour candle close below 0.31
Take Profit Levels: TBD
Macro Considerations:
Trading on the weekend is more risky as there is less participants (liquidity) and can create bigger moves, hence the reason to pass on a leveraged trade. BTC is also in a state of indecision where the current expectation (general sentiment) is for a move down to $48-46k).
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