IMX - Swing Long
There is a scenario why a new low can be made before a new high, or other bullish scenarios where it goes down to lower green box, but that's for another day.
IMX is one of my favourite assets for the new bull cycle (whether we're in it or not). I don't use hard stops for this asset. If things look terrible after the buy area arrives, then I will cut it partially.
The black scenario is obviously mega-bullish, but that's not my primary and the marked resistance zone will give a hard rejection as per my system.
My bags are already filled and at worst case, I'm looking at a 150%~ move from my first area of interest.
IMX is one of my favourite assets for the new bull cycle (whether we're in it or not). I don't use hard stops for this asset. If things look terrible after the buy area arrives, then I will cut it partially.
The black scenario is obviously mega-bullish, but that's not my primary and the marked resistance zone will give a hard rejection as per my system.
My bags are already filled and at worst case, I'm looking at a 150%~ move from my first area of interest.
Trade active
Filling my first bids, lower box still possible but I'm sticking to plan and cutting the losses if it loses the box.Note
We held the box. Stop is now at breakeven. If I get stopped, I'll long deviation of the box, or the lower one.Note
It scam wicked below the stops on Binance perps but i am still in the position.Trade closed manually
So yeah i got stopped at the end when we lost that first green box. I've very mixed thoughts about it, but will update in a different chart.
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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.