TeraWulf Inc.Long
WULF - scenarios and example of entry strategy
I took a look at WULF today when a question came up about where to look for an entry. If we draw a number of Fibonacci retraces from key price levels we can find a number of confluence zones that could be strong areas of interest for support and resistance. Then we compare 3 scenarios: enter now, look for a pullback, wait for a break higher.
Entering now and using the lower confluence zone as a stop will give us the worst risk reward ratio. A pullback to support offers the lowest price and a favorable 3:1 risk:reward. And waiting for a break above and retest is the most expensive entry, but offers the optimal risk reward ratio.
I am pretty heavily allocated in crypto and to MARA in the miners space, so I likely won't try this one. If I were, I would probably look to play both the pullback and breakout.
WULF today when a question came up about where to look for an entry. If we draw a number of Fibonacci retraces from key price levels we can find a number of confluence zones that could be strong areas of interest for support and resistance. Then we compare 3 scenarios: enter now, look for a pullback, wait for a break higher.Entering now and using the lower confluence zone as a stop will give us the worst risk reward ratio. A pullback to support offers the lowest price and a favorable 3:1 risk:reward. And waiting for a break above and retest is the most expensive entry, but offers the optimal risk reward ratio.
I am pretty heavily allocated in crypto and to MARA in the miners space, so I likely won't try this one. If I were, I would probably look to play both the pullback and breakout.
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