HEDG at Support and Ready to Bounce!
HEDG is once again nearing its main support level and offers a 110% return!
Recap: HedgeTrade (HEDG) is a platform created to improve social trading. Beginners can buy trading predictions in the form of “blueprints” secured by HedgeTrade smart contracts. Although the platform is currently geared towards Crypto’s, it plans to expand its operations to other assets.
HEDG tokens are needed when buying and selling a blueprint. HedgeTrade charges a 50% commission fee for any successful blueprint purchases made by users. If a blueprint is unsuccessful, then a 50% commission fee is charged from the blueprint’s creator while the rest is sent back to the user.
HEDG on the Chart
The main support level around $1.3-$1.1 has caused the token to bounce and turn bullish twice before. You can attempt to enter around $1.1 for the best price point; however, an entry around $1.32 just above the support is likely to get filled while at the same time offering adequate returns.
We have set-up 3 profit targets just below resistance levels. You can choose to take out part of your position at each of the targets or take out all of your profit at one of them. The first target aims for a conservative recovery; the second aims for a moderate recovery, and the third target, aims for a full recovery to the all-time high.
Managing your risk is an essential aspect of trading. Therefore, placing a stop-loss will ensure that you do not lose all of your hard-earned money on a single trade. Due to HEDG’s particular long wicks and its tendency to temporarily break support levels, a wider stop loss placed at 1$ or less should be appropriate.
Recap: HedgeTrade (HEDG) is a platform created to improve social trading. Beginners can buy trading predictions in the form of “blueprints” secured by HedgeTrade smart contracts. Although the platform is currently geared towards Crypto’s, it plans to expand its operations to other assets.
HEDG tokens are needed when buying and selling a blueprint. HedgeTrade charges a 50% commission fee for any successful blueprint purchases made by users. If a blueprint is unsuccessful, then a 50% commission fee is charged from the blueprint’s creator while the rest is sent back to the user.
HEDG on the Chart
The main support level around $1.3-$1.1 has caused the token to bounce and turn bullish twice before. You can attempt to enter around $1.1 for the best price point; however, an entry around $1.32 just above the support is likely to get filled while at the same time offering adequate returns.
We have set-up 3 profit targets just below resistance levels. You can choose to take out part of your position at each of the targets or take out all of your profit at one of them. The first target aims for a conservative recovery; the second aims for a moderate recovery, and the third target, aims for a full recovery to the all-time high.
Managing your risk is an essential aspect of trading. Therefore, placing a stop-loss will ensure that you do not lose all of your hard-earned money on a single trade. Due to HEDG’s particular long wicks and its tendency to temporarily break support levels, a wider stop loss placed at 1$ or less should be appropriate.
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