CounterParty (XCP) | 1100% Potential
Updated
We are currently up about 100% from our original entry at 200k (original chart was deleted by TradingView).
I also realized I made a mistake in my original chart by stating there was only 450% to All time high.
I was working off of Bittrex, but did not realize Poloniex had more history of the coin, where it reached 4500k!
This is about 1100% up from where we are now. What a wonderful mistake to realize that your potential profit can go 2.5x more than you thought!
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Trade details:
We are high up in the FIB channel, and we are hitting up against the 1.618 Trend-based FIB line, so I am expecting lower entry opportunities. However, with the right amount of volume, breaking through the 1.618 FIB would be very bullish. This is why I'm setting up a small position at current price, and bigger positions below.
Original Entry: 200k
New, Riskier entry: Starting small position here at 420k (I'd enter up to 440k)
Safer entries: 401k, 370k, 320k
Targets: 495k, 530k, 680k ... 1114k, 4500k
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
As always, please feel free to ask me any questions you have on this idea . Always willing to have discussions with new and experienced people alike!
I also realized I made a mistake in my original chart by stating there was only 450% to All time high.
I was working off of Bittrex, but did not realize Poloniex had more history of the coin, where it reached 4500k!
This is about 1100% up from where we are now. What a wonderful mistake to realize that your potential profit can go 2.5x more than you thought!
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
Trade details:
We are high up in the FIB channel, and we are hitting up against the 1.618 Trend-based FIB line, so I am expecting lower entry opportunities. However, with the right amount of volume, breaking through the 1.618 FIB would be very bullish. This is why I'm setting up a small position at current price, and bigger positions below.
Original Entry: 200k
New, Riskier entry: Starting small position here at 420k (I'd enter up to 440k)
Safer entries: 401k, 370k, 320k
Targets: 495k, 530k, 680k ... 1114k, 4500k
-------------------------------------------------------------------------------------------------------------------------------------------------------------------
As always, please feel free to ask me any questions you have on this idea . Always willing to have discussions with new and experienced people alike!
Note
Counterparty outlook on Poloniex. One can only hope we'll reach this level againTrade active
Wow, we're almost 3x from our original entry (190% up)!Taking some profits (about 15% of position) at 598k
We are at the top of my FIB channel, but we appear to be breaking through.
News of the XCPC fork is spreading like wildfire.
A little risky to take profits on a coin this bullish, but I like to follow through with my plans. Top of channel and RSI overbought is something I use as a sell signal
Will reenter if we break 605k, or if we dip back down to 480k - 510k level
Trade active
We hit 700k earlier! That's a whopping 3.5x from our entry. I took some profit at our 680k target as per my plan.
Now that we have dipped under 600k and have come crashing back down into the channel, I am using the profit I took to buy this dip.
This is a nice dip, so I would accumulate here (~560k) regardless.
We may dip lower, but I'm expecting a bounce on one of these higher channel lines.
Note
Sorry I wasn't around to guide you guys during our crash, but that's what the stop-losses and accumulation zones are for.You can see how it just barely misses my last accumulation zone, but at least it hit my 370k entry!
So, if you followed me, congrats.
Hope you didn't panic sell. Remember, you buy when there's blood, not sell.
Taking profit on targets can be used for these occasions
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.