QKC is a currency I've been following for quite some time: ever since they announced the mainnet. Since then I had some satisfaction with this nice Altcoin/Bitcoin market.

In this post I want to share something about how I managed the position. 

Timeframe 1H, as we can see the market, had an uncertainty in the fall: apparently the price was stabilizing, until I saw the 3 red candles follow one another.

I open the position and 69 Sat, in an apparently inconvenient level, as they are close to a rather strong support in August '20, before the rise from 10 to 20, which culminated in a double high on 17 and 18.

By the way, the bearish phase should have lost its strength, so it's possible that the market will recover; in any case, even if this were not the case, I have already prepared a rescue size to be exploited for any retrace, in case the price continues to fall.

As I expected (qkc price action almost always does the opposite of what one would expect) the price instead of going up has continued to fall, so I placed a buy size at the 58 Sat level. Rescue size is not always a strategy, but I use it when I expect a quick bounce-back or even some spikes to be sure I can enter the market at a low price without risking to be Stopped out from the market, losing from the Stop Loss and losing also the bounce-back. 

Confident of the retrace, the sell was placed near the local high at 66 Sat, and, to avoid losing profit, I placed the sell, as a precaution, at 65.

Well everything went as expected, totaling a 12% profit.

In order not to have nasty surprises, especially in a very volatile market such as QKC, it is all the more necessary to have strategies aimed at protecting capital and drastically reducing the Risk / Return ratio.

Happy Trading everyone !!!!

From the graph below we can see the green arrows for entry and the red one for exit.