░▒▒ LOOM FORECAST | 3HR ▒▒░COINBASE:LOOMUSD
CRYPTIK-ONE: Hello my dear. Can we talk about Crypto for our TradingView.com profile?
EVE: If you like. Though, I assume it will be the same boring conversation we've had a thousand times before?
CRYPTIK-ONE: Actually not true. As you know I have been trading(/experimenting) with other ALT coins. So this is not the usual Bitcoin conversation.
EVE: OK I'd like to hear something new.
CRYPTIK-ONE: LOOM as in Loom Network. It's a coin used for DAPP Development/Developers.
EVE: Yes, I vaguely recall you mentioning that name before.
CRYPTIK-ONE: As you can see from my chart my forecast calculations are showing a 26% gain.
EVE: I see you've found a low volume breakout first. Though I fear it's a pump and dump so I'm hesitant.
CRYPTIK-ONE: Your fears are always warranted however this one is legit. It has been around since 2018 (so 4 years now). I only have one issue with this coin.
EVE: What's that?
CRYPTIK-ONE: 24hr volume on CoinBase is only 2.2M I could barely get a fraction of our Order filled and it's clear I will barely be able to get it sold. Without a bot breaking augmenting the trade then manually it's going to be tough to get rid of our stack as we are already a couple hours of trading volume. The spread is only 1 cent however the volume is just not there to meet the order. I am going to have to hedge out of before the top, so hopefully people scramble to buy-in in hopes of catching the top (allowing us to get out).
EVE: It may be there you just have to look harder. How are you going to hedge?
CRYPTIK-ONE: Going to hedge by breaking up the stack into smaller trades and trading on the way up. Like a ladder. Little by little selling off on the way up.
EVE: I think that's a good idea. I don't want you to sell at the top only to watch the correction come and you are stuck with what you have left which would be more than you otherwise would have had if you sold it higher up the ladder.
CRYPTIK-ONE: True. We could easily buy the daily volume on this but it's too risky being the whale. I would rather find an ALT with a higher daily volume and lower than $0.20 price. Something we can pop a quick sale in. Honestly Cardano (ADA) at 89M Daily Volume is probably where we want to be, or not much lower as sometimes if volume is lower our orders are still split up to be sold and can take a minute. So from my assessment we should be trading only 10M Daily Volume per $0.10. So if a coin is at $0.20 the Daily Volume should be at 20M for our trades to go through. This way we can ensure we will be able to keep buying bottoms and selling tops.
EVE: I think Cardano would actually be a good hedge for Loom. Both coins have been going up steady and Cardano has had drops where it makes good buys. And Cardano may act as the buy side for the higher amount of volume you prefer.
CRYPTIK-ONE: I believe you are right my dear. I will stick with Cardano for a while too and then buy in for another ALT at a good Daily Volume/Price ratio. BTW I bought the market on OXT too. So I gotta get out of this one also.
EVE: That's not bad because it has been going up so you're good with that coin.
CRYPTIK-ONE: Yes, however we own 3 hours of daily volume.
EVE: That's a lot.
CRYPTIK-ONE: Right. So I am going to get out of these. Hedge out with that ladder plan and then buy something with more volume.
EVE: OK, sounds good. Let's chat about that later. I'm watching the charts. Also, the market is pumping (not sure why) so I think we should get out of XLM now and take the profit.
CRYPTIK-ONE: OK, lets wait for XLM to come up a little more, it hasn't started moving back up yet. BTW I am looking into AMP too.
EVE: OK cool. I think we should wait and see. However it is a little high, maybe you are right and we should wait some more.
CRYPTIK-ONE: Yes gains are way too small on XLM. Let's wrap up this conversation at that. Anything to say to our friends/followers before we go?
EVE: Er, no I guess not.
CRYPTIK-ONE: Fair enough. Can you let them know who the best trader on all of @TradingView is?
EVE: That's you!
CRYPTIK-ONE: Peace Out Girls Scout.
EVE: Peace Out.
