Gem pick / High Risk / High Reward
I thought I’d choose one of the riskiest charts I have in my watch list and test my trading skills with $50.
I choose Labs because of its upside potential, and it’s risk to reward ratio, and because it’s realestate, and because it came pretty close to 0, which is really important to me when selecting low market cap coins, and because it shows signs of reversal (RSI/MACD/VOLUME divergence), and because it has its own rhythm (pairs well with other coins). Although Their website looks ‘meh’ and I don’t yet see the benefit of owning the token. No real product yet. Pump and dump coin… So high risk!
Anyway, let’s get to the trading.
Recent double top (daily) puts buy zone around current price 0.0015, but because of the recent INV HNS (inverted Head and Shoulders) breakout, might see a revisit of the top of the HNS 0.001217
I’ve staggered my orders between 0.001550 and 0.001217. That’s an 18% difference. And I don’t use stop losses because it’s a pump and dump coin so there is order book hunting. Just stick to trade confidently.
But because of the revisit to the HNS, and the current pending CUP AND HANDLE pattern, and because of all those crazy wicks, there is a chance that there will be a quick recovery in this zone.
There’s also a high chance that all crypto could dump hard, but due to strong divergence on all tokens, and the current weakening dollar, we could see some crypto breakout.
Selling opportunities 0.018 and then
0.0025 - 0.0065
Expect resistance from 0.0026 - 0.0033
And for perspective, this coin started at 0.064… to get back to ATH, this coin would have to 45x
I choose Labs because of its upside potential, and it’s risk to reward ratio, and because it’s realestate, and because it came pretty close to 0, which is really important to me when selecting low market cap coins, and because it shows signs of reversal (RSI/MACD/VOLUME divergence), and because it has its own rhythm (pairs well with other coins). Although Their website looks ‘meh’ and I don’t yet see the benefit of owning the token. No real product yet. Pump and dump coin… So high risk!
Anyway, let’s get to the trading.
Recent double top (daily) puts buy zone around current price 0.0015, but because of the recent INV HNS (inverted Head and Shoulders) breakout, might see a revisit of the top of the HNS 0.001217
I’ve staggered my orders between 0.001550 and 0.001217. That’s an 18% difference. And I don’t use stop losses because it’s a pump and dump coin so there is order book hunting. Just stick to trade confidently.
But because of the revisit to the HNS, and the current pending CUP AND HANDLE pattern, and because of all those crazy wicks, there is a chance that there will be a quick recovery in this zone.
There’s also a high chance that all crypto could dump hard, but due to strong divergence on all tokens, and the current weakening dollar, we could see some crypto breakout.
Selling opportunities 0.018 and then
0.0025 - 0.0065
Expect resistance from 0.0026 - 0.0033
And for perspective, this coin started at 0.064… to get back to ATH, this coin would have to 45x
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