Currently the overall market seems to be heading down, but the pullback we've been expecting seems like it's finally here. This is great news for me, as there will be different opportunities to enter as breakouts from the downward trendlines always give solid rallies! As it is holy week, I've toned down my trading and only trade sporadically, but today's playground was still GMT. Gotta love the opportunities it gives!
As always, anything I mention here is not financial advice but my thoughts and my plans on the tokens discussed.
BTC Situation
With the last 2 and 3 candles showing a high volume breakout from the purple area of value, we are now looking at a solid pump. As long as the volume continues, this may signify a change in character of BTC in the short term.
SHIBUSDT Result of Paper Trade
Yesterday I did a paper trade and entered at 0.0265 SHORT at 10:55pm, my time. The TP I set for this was 0.0275, which was hit at 1:15pm. This was a solid play, but I actually expected a stronger pump to break the recent ATH. Seems like it will consolidate in the current area for a while.
My Trades Today
GMT
I took advantage of the break of the Gann Box here and shorted it. I later went Long when it reentered the Gann box, which allowed for another opportunity to profit. I only did low margin trades but it was good enough to reach my daily quota from GMT alone. Currently it looks to be consolidating in the gann box once again so let's see. It is worth noting that the volume is considerably lesser today than usual, which may be the reason for it's lack of volatility.
Tomorrow's Watchlist
I am waiting for LUNA to retest the 85.3 area before I enter on LONG.
Credits
- Charts taken from Tradingview.com
- Pictures made using Canva.com