It's my old strategy, from stocks markets. I'am curious if entry like this will pay good here. I changed my view on cryptomarket overnight. Rebuyed my 30000XEMs (25% of all od my XEMs) and try to close this position in TP3 place (48cents). But when someone wants manage more logical entry like this must divide profits in 3 stages (3 blue lines in my chart, 32cents, 40cents, 48cents). Basically that are levels based on Fibonnacci and Elliot's waves counting (wave 5th - if she will be constructed by market, could be 50%, 100% and 150% of previous wave 3rd - can be even more but i use only this three extensions). SL must be under pink line when 1H candle closes significantly under this line. I personaly dont use SL here as i rebuyed my XEMs from my old stack, so i lose nothing if it go lower. But for speculative entry SL must be used. And how to manage this position with profit taking? 50% quantity of position must be closed @ 32cents, and SL goes for the rest of position to the entry point (around 26cents). Than if market goes higher 25%-30% of position is closed @ 40cents, and the rest @ 48cents.
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This strategy by the way, can be named "hunting of wave 5th". In crypto when wave 5th is good "hunted" can pay out incredibly good.
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Strategy for XEM is suspended, as Bitcoins situation worsens. I sold one more time 25000XEMs @ 25,5 cents, with pain in the heart of course.
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I will try to rebuy my XEMs sold @ 25,5 cents but without this strategy in play. I set up pending buy @Zaif @ 18,66JPY
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pending order changed to 16,66JPY (for XEMs) so around 15cents, i hope some panic sellers give me this souvenir:)
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pending order modified with step 0.05JPY spreaded in area 16,6-17,5JPY
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If i believe in BTCUSD is going down to 4550-4700 area, i should now set more realistic pending buy order @XEMJPY, so i spread this order in range 21.06-22.01JPY with step 0.05JPY (so 20 orders with whole sum of 25000XEMs if all will be filled i will have good rebuy with average 21,5JPY so around 19,5cents - i sold back in time this stack @ 25,5cents)