PSGUSDT --> Risk -5% for +50% PUMP?
Updated
I was gonna put the high risk label on this trade... but honestly... I really don't think this is high risk. (It DOES depend on your risk management, if you commit too much to this... well don't do it!)
You can see that twice before PSG went sideways for 3 days, then 5 days, and pumped, shows PSG likes to pump UP after significant sideways price action.
We also see that PSG can BREAK LOWER TREND LINE and still pump.
When it goes sideways, it sticks to a tight channel, which is what makes this trade viable. You know exactly what you need to risk in order to fail/confirm this particular pattern. If it comes down over 4%, this trade is cancelled.
If it comes back up into the channel, imo you have good odds at +50%
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PSG TRADE
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BUY: $42
TARGET: $65 (or previous high $58)
STOP: below $41.5 likely fails the trade.
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Fundamentals
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Rank #573
Market Cap = $54,688,829
Fan token PSG football team
Total Supply: 20,000,000
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You can see that twice before PSG went sideways for 3 days, then 5 days, and pumped, shows PSG likes to pump UP after significant sideways price action.
We also see that PSG can BREAK LOWER TREND LINE and still pump.
When it goes sideways, it sticks to a tight channel, which is what makes this trade viable. You know exactly what you need to risk in order to fail/confirm this particular pattern. If it comes down over 4%, this trade is cancelled.
If it comes back up into the channel, imo you have good odds at +50%
-=-=-=-=-=-=-
PSG TRADE
-=-=-=-=-=-=-
BUY: $42
TARGET: $65 (or previous high $58)
STOP: below $41.5 likely fails the trade.
-=-=-=-=-=-=-
--==--==--==--
Fundamentals
--==--==--==--
Rank #573
Market Cap = $54,688,829
Fan token PSG football team
Total Supply: 20,000,000
--==--==--==----==--==--==--
Trade closed: stop reached
BTC pooped the pooch hereNote
I would be so dang careful trading this thing btw. When you breakdown out of a pattern of that size, the move down is big. PSG could get bearish for at least a few weeks.If BTC goes over 60k, it may have strength to reverse PSG, also a CHZ (chiliz and socios) bullrun can also help PSG recover.
Entries for this are mostly restricted to fundamentals, for the next few weeks.
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