Ethereum. First parabolic wave of a new cycle.
~350 seems a likely target for this wave.
One strategy I have been employing to maintain my long position while hedging downside risk:
After a large pump, e.g. 250 to 278, open a short hedge position with a tight stop, say $282 which covers your entire long position.
If it falls, you are fully hedged. Close the position at the dip and use the profit to increase your longs.
If it pumps more, you are quickly stopped out with minimal losses.
Watch out for upward wicks.
Like and follow if you enjoy my analysis and trading tips.
Nyapansu~
One strategy I have been employing to maintain my long position while hedging downside risk:
After a large pump, e.g. 250 to 278, open a short hedge position with a tight stop, say $282 which covers your entire long position.
If it falls, you are fully hedged. Close the position at the dip and use the profit to increase your longs.
If it pumps more, you are quickly stopped out with minimal losses.
Watch out for upward wicks.
Like and follow if you enjoy my analysis and trading tips.
Nyapansu~
Penafian
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