Trade Direction:
Injective Spot Long
Risk Management:
- Spot Position 1% total spot portfolio.
- SL will be executed only when a daily / 3day close below that level.
Reason for Entry:
- 50% retracement off daily leg completed
- EQLs swept and reclaimed
- Daily CHoCH/MSB with retrace
- Injective oversold daily with likely daily bullish divergence forming
- Multiple fair value gaps tapped: daily, 3-day, weekly — strong support confluence
Additional Notes:
- Plan to layer bids in and slowly dca in even if that means higher up
- If this low is confirmed as a protected level, stop to be moved tighter as trade progresses
- Daily time frame change of control favours bulls, supporting long bias
Only coin I'm interested in at these levels. Begun building a spot position here.