And now I'll tell you about $PIPPIN . I decided to check where our #Pippin is today and saw a tempting picture for myself, how many liquidation zones there are at level 0.208. I set a notification for myself and posted that it's still too early for us to go short❗
And literally half an hour to an hour later, I receive a notification that the price has reached 0.208, I open the coin and such a wonderful episode. All the major liquidation zones were wiped out, RSI is high, well, I posted that it's time for us to go short for a little while.
I waited for the closing of the candle that took out liquidity, the next one also went up at first, I placed a pending order in the middle of the high of the last green candle, and we went down. Why so briefly❓ This coin doesn't intend to stop and is trying to knock out all their money from short positions. So I was waiting for a maximum of 1-2 candles and maybe a touch of the lower liquidation zones.
Usually, I don't do this, but how can I pass by such a fat yellow liquidity zone❓ Where I entered, I said, let's move on, in such coins and situations it is important to reduce your risks. Naturally, I entered without leverage, then when the first red candle went down, I moved my stop loss to break even. We know this coin and its jumps, it can take you out at any moment. If I had been closed at break even, it wouldn't have been a big deal, it means it wasn't my entry point. Next, it's important to move the stop loss. The first red candle closed and I moved it to about the middle of the previous candle. Well, why not❓ 1% profit is better than break even. Next, the second candle closed and I moved the stop to its middle. And halfway through the 3rd candle, I moved the stop loss under the low of the second candle. The third red candle closed, a green one started, and my position was closed. It was about +5%. Don't expect immediate profit of +20%, such a moment is extremely hard to catch.
Well, the trend line didn't give me peace either 👇 the candles couldn't hold below it, although I was waiting for us to hit the lower liquidity.
On the chart, the trend line, in the blue circles are support points, as you can see, the candles crossed it with their bodies, thereby expanding the trend and creating new support points. The yellow line is my entry, and the orange ones are for clarity moving the stop loss, although it's more correct to call it take profit, but for convenience, I move one line, and specifically, I use take profit when I expect a touch of some point. And according to Fibonacci, we couldn't even cross the 0.5 line, so it's too early to talk about the coin's decline. We are waiting for the same swings as it likes to show us 🤣
If you found something useful in this post, please give ❤️ maybe others will find something too ☺️ I share my thoughts and actions. And in the comments, let me know how you are doing with #Pippin , I also love reading how others are doing.
Have a good evening and more profitable days ☺️ Specifically days, don't sit up at night, I stayed up until 04:00 with $POWER yesterday, and today I just want to sleep, and it seems I might fall asleep before I can get to bed ☺️
