Everyone, I am going to open a large long position on
$DKNG .
Take profit: 19.3693
Stop loss: 17.8105 👇
Now you may be wondering an obvious question: why am I going long at this position?
First, the location. The recent 20-day range is 17.2 to 23.9, current price 18.16,
standing at the 14.3% percentile. It has fallen 12.94% in the past 7 days.
I’ve only seen 17.2 touched once; it was pushed down and then recovered. There is support here.
The overhead supply is still pressing down, and the market is only this big, so my take profit is only 19.3693.
Today
$BTC and
$ETH are both selling hard; it can still stay above the lower boundary, which means selling pressure is fading, but liquidity is still thin.
I do not break position discipline. The average daily volatility is 6.66%, and take profit at 19.3693 is +6.66% from the current price, right at the upper edge of the average daily volatility.
Stop loss 17.8105 is -1.92% from the current price, which is the six-hour extreme plus an additional 0.5% buffer. Both numbers are within the average daily volatility.
Risk-reward ratio: 3.46.
At first glance I thought I saw it wrong; I checked twice before believing it.
It’s like receiving something downstairs: first make sure it’s steady, then look upward. At this position, I’m willing to take the gamble.
What do you all think? Would you wait until it breaks 17.2 before acting?
#DKNG #EVAA #cryptocurrency
The above is a record of personal trading system and data observations and does not constitute investment advice