DCR LONG POSITION

8 Nov 2023

#Dcrusdt
#Dcr
#Longposition
#Profit
#Profitable
#Btc
#Usdt

Based On Market Structure We Conduct A Long Position From This Liquidity Levels

Entry: 13.11 - 12.92

Take Profit: 16.09

Stop Loss: 12.67

Advisor Legal:

Recommend Capital Allocation:

Open P&L: 1.39

Risk/ Ratio: 6.48


#Decred #DCR #DCRUSDT #cryptotrading #longposition

Decred (DCR) Technical Analysis - Long Position Update

Based on the current market structure, I have decided to hold my existing long position on DCRUSDT. This trade was entered between $13.11 - $12.92 as described in my previous analyses.

The trade now has an open profit/loss of 1.39% and a highly favorable risk/reward ratio of 6.48. This means the potential upside is over 6 times greater than the risk on the trade.

My take profit target remains at $16.09, just below a key resistance level. I will look to book partial profits at $15.50 and trail the rest.

The stop loss is still in place at $12.67 which allows room for normal price fluctuations while limiting downside risk.

I will continue holding this low-risk, high-reward long position as long as the bullish structure remains intact. Signs of a trend reversal would be a break back below $13.

As always, proper capital allocation is key. I have limited my position size to 5% of capital to align with my risk management strategy. Strict risk control is vital for long-term trading success and profitability.

Overall, I remain bullish on DCRUSDT and expect further upside from this profitable long position. I will post updates as the trade progresses. Let's see how high Decred can run!