LQTY trade idea 18/03/23 1.55pm
LQTY breakout trade idea.
Playing h1 targeting 3.8
Current price 2.81
Stop loss: 2.7
Thesis:
1d bullish, alts seem to have a lot of room to run if BTC consolidates
4h pattern looks good according to something Loma would like
Tight stop loss
Idea is that h1 should not be closing back into demand zone for the 5th time & also making a lower low on h1
Flaws with idea:
BTC having ran so much, if it pullbacks alts could nuke - but conversely I said that since 24.8k and did not long any alts because of this and missed 10-15% moves
Id like to take this trade purely because invalidation is close.
Playing h1 targeting 3.8
Current price 2.81
Stop loss: 2.7
Thesis:
1d bullish, alts seem to have a lot of room to run if BTC consolidates
4h pattern looks good according to something Loma would like
Tight stop loss
Idea is that h1 should not be closing back into demand zone for the 5th time & also making a lower low on h1
Flaws with idea:
BTC having ran so much, if it pullbacks alts could nuke - but conversely I said that since 24.8k and did not long any alts because of this and missed 10-15% moves
Id like to take this trade purely because invalidation is close.
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