Hey folks. I hope you are doing well. This is my Current plan on AVAX.
Looking at the day chart, I see a text book example of a Hidden Bearish divergence.
On the Chart below I have list my current current Plan of Action, with a target near $9.40, give or take either way. I entered into my current Short Position at $21.477, with a Stop Loss at $24.17. It is important to note, I have not used any leverage. With this current position my Risk Reward is highly in my favour. The trick to trading is being patient and entering positions with high win rates and low loss rate. With my position I'm risking around $3 for each Avax held, and around $10 gain for each Avax held. My risk/Reward 3/10.
Please take Note: Price Action on Day Charts can take some time to play out. Anywhere from a couple days to couple of weeks.
As a trader, nothing is set in stone. No one can predict the markets, only the probabilities which direction it will go. At anytime Markets could change, causing me to revaluate my plan.
This is Not Financial Advice.
