MARA trade ideas
mara short swing ~previously we swung mara from around $20 --> $70 via:
it came down pretty impulsively after poking our target, and there has been no signs of bullish divergence or anything of this nature (thus far).
i think it's going to drop lower.
shorting it right here for this potential sub-wave 5th swing.
MARA update on weeklyLarge drop has happened and we are digesting sideways a little bit. Scenario #1 The question will be does the weekly candle close above the $51 - $53 area and we sit here for a week or so before we continue to build back up.
Scenario #2 we get more flush out because leverage is still high and BTC takes the crypto market down towards $43k for a higher low. Those levels for MARA would be the yellow arrows and would likely happen quick.
Leaning towards #1 being a higher probability due to historic test to 2017
NEW POSITION $MARA @ 55.31 —Looking for 30.05%NEW POSITION $MARA @ 55.31 —Looking for 30.05%
Ok, so I do think that MARA could pull back a little more but I started a 1% position here…
Sell target 71.93
Or
Double Target 38.69
And honestly, I'm kind of secretly hoping it pulls all the way back to 38 - it certainly has the volatility to do so...
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MARA : POST TRADE ANALYSISGood high handle type entry.
What would have kept me in this trade?
We don't always make perfect decisions. If trading was a perfect science, there would be no opportunity. I post this analysis to show where the "doer of deeds could have done differently".
One sticking to my original stop and trailing the 10 day.
Perhaps, waiting to see if it cut the prior day low before exiting for just allowing the rest of the trade to ride isince I was already in profit.
Or, moving the stop to just below the candle of the gap?
The main reason I sold the final position was due to upcoming earnings report. It's apparent that stocks can suffer damage so it is important to always know the earnings date, before purchasing a stock. The pull-back was intense and could have been a lot worse, but I had an 11.9% cushion which was borderline for holding through an earnings report.
It hasn't closed below the 10 day. Holding final position could have been successful but we never know if our stock might gap down 30% on a report.
The results of the trade : 11.9% 1.87R
EDUCATIONAL AND NOT MEANT AS TRADING ADVICE.
Price Action for $MARAI messed up my support trend line and looking at this for a second glance I see us reaching $80 by the end of the month. Disregard the price line I made on the last chart because it didn't fall in line with the support. More bullish in this case. Definitely see $80 for $MARA by the end of the month.
$MARA Price action for 11/11Obviously we are going to see volatility over the price action of Bitcoin over the past couple of days. Some things I want to note are that we will probably be trading in the mid-60s range before the next pump. Short term I am bearish but still see this pump getting to $80 by December. From there I believe the price of bitcoin will be trading at $70k and the Fomo will begin. Going to pay attention to some stock-to-flow charts of bitcoin to ensure when I will be selling. Then I probably won't come back to $Mara until we have hit lows of bitcoin. Until now enjoy your gains lol. I would say overall I am neutral, but it's foolish for me to not take out over 100% gains when bitcoin soars to a new price discovery. WHEN THE BEAR MARKET COMES FOR CRYPTO I WILL LOAD UP AGAIN!
MARA next few daysMARA has been explosive over the last month during this BTC rally.
MARA doesn't always follow BTC price action. I have noticed a very strong run over a few days and then about 2 weeks to cool off.
Watch the fib today as resistance around $82.5 - if that is broken we could hit the top of the trend channel.
I do not know where MARA will stop, but i could see this week it peaks and profits are taken (for a time).
RSI and MACD are elevated.
I am moving up my stop loss and it will get tighter this week as MARA advances. $100 will be impressive. Some of you found MARA under $1, I didn't find this until $3 and it has been a very rewarding investment.
Good Luck.