Long
GRNBTC Trade Idea 11/13/19
Hey Friends!
I am noticing a bullish setup for Grin (GRIN). My trading idea is to buy around current levels with a stop loss order around 0.00016, an initial target around 0.00029, and a secondary target of 0.00035, but if bullish volumes come in, it could go higher. As seen in the chart below, GRIN/BTC appears to be have formed a market structure bottom and is testing the resistance cloud.
As seen in the Daily chart above, the accumulation/distribution line is inching upward, the MACD made a bullish crossover and is also about to bullishly cross the zero line, the Willy is moving up bullishly, and the Fisher Transform Indicator just made a bullish cross. Note that price has recently risen above the 88.6% Fibonacci retracement level.
Remember, if you choose to trade, then feel free to exit your position whenever you wish – keep in mind that this is only a trade idea.
A common strategy is to sell half of one’s trading position at or near a double, and ride any additional gains on top of that while keeping a trailing stop loss. Always remember to exercise proper risk management, and don’t invest more than you can afford to lose.
Stay ahead of the masses,
Seth Maniscalco
Founder, Crypto Wealth Coach LLC
Owner, Modern Wealth Management LP
CryptoWealthCoach.com/VIP
I am noticing a bullish setup for Grin (GRIN). My trading idea is to buy around current levels with a stop loss order around 0.00016, an initial target around 0.00029, and a secondary target of 0.00035, but if bullish volumes come in, it could go higher. As seen in the chart below, GRIN/BTC appears to be have formed a market structure bottom and is testing the resistance cloud.
As seen in the Daily chart above, the accumulation/distribution line is inching upward, the MACD made a bullish crossover and is also about to bullishly cross the zero line, the Willy is moving up bullishly, and the Fisher Transform Indicator just made a bullish cross. Note that price has recently risen above the 88.6% Fibonacci retracement level.
Remember, if you choose to trade, then feel free to exit your position whenever you wish – keep in mind that this is only a trade idea.
A common strategy is to sell half of one’s trading position at or near a double, and ride any additional gains on top of that while keeping a trailing stop loss. Always remember to exercise proper risk management, and don’t invest more than you can afford to lose.
Stay ahead of the masses,
Seth Maniscalco
Founder, Crypto Wealth Coach LLC
Owner, Modern Wealth Management LP
CryptoWealthCoach.com/VIP
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