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SNXUSDT trade ideas

SNX 1D Global chart and liquid zones for buy and sellSynthetix is ​​a decentralized finance (DeFi) protocol, the network of which was launched at the end of 2017. However, the price of the SNX token was able to shoot only in 2020, when the hype around DEX exchanges and DeFi projects rose on the crypto market. Now the price of SNXUSDT is approaching the critical level of $12.60 from where a downward correction may begin. An important task for buyers is to keep the price above the $7-7.60 zone . In this case, there will be all conditions for continued growth to $16. If the bulwark of buyers' protection in the $7 region does not withstand the invasion of sellers, then the continuation of the fall to the $4 region will become quite real. However, if you narrow down the chart presented, you will see a long history of trades in the SNXUSD pair. The chart clearly shows that even a theoretically possible price drop to $4 will still look like consolidation in the upper part of the global chart and will not carry anything critical for long-term investors. Short and medium-term speculators need to be vigilant, use stops in trading, and pay special attention to the liquid areas that we have highlighted on the chart. _______________________________ Since 2016, we have been analyzing and trading the cryptocurrency market. We transform our knowledge, trading moods and experience into ideas. Each "like under the idea" boosts the level of our happiness by 0.05%. If we help you to be calmer and richer - help us to be happier :)
by P_S_trade
37
LONG SNXBullish divergence occurring on 4H and daily structure. I really like failed swing patterns where SNX shorters tried to take the price down to sweep the lows and it quickly recovers all downside. The 4H structure just looks imminent for a breakout of the POC. These setups feel pretty comfy: Strong downtrend into HTF nodes, bullish divergence, last daily candle relatively tight move, and the next daily candle engulfs it with a supporting wick. LONGED @ $8.35, willing to add more at $7.89 if overall crypto looks ready for a move back into higher range. Targets are: $11.9 $13.8
Long
by khaoz346
SNXUSDTReality Check: Investing/Trading is a Zero-Sum Game and based on the greater fools theory if you are not buying dividends. You buy because you seek a profit,** just like the person who sold the stock to you** - the equity stock market and the real world are not correlated to each other but a believed correlation there of. Once understood, there is more value in knowing how your competitors/other market participants think and act. It's only logical to then track the big players and or the crowd when they are accumulating and distributing. Risk Management, the reason you stayed **in the Game** is a Minus Sum Game, more than 60% at minimum lose money investing/trading. Having a 10% Loss takes a 12.5% Profit to go breakeven, a 90% Loss takes a 900% Profit to go breakeven. Risk Management Principles: 1) Assume being wrong until proven correct 2) Add on to Winners, BUT treat them as individual positions Imp. Metrics: 1) Action/Inaction Ratio for Research = The shorter the Timeframe the less research you make to not miss out, the longer the timeframe the longer the timeframe 2) The more you investigate, the less you have to invest 3) There is never an easy time to make a tough decision
by UnknownUnicorn5507594