The fundamentals and blatant promotion around graphite block chain/ peer plays, steemit and the Hero is building. I view this as an unlimited earning - low risk, High reward play. To take full advantage and limit the down side risk my trading plan is as follows: I will invest 3,000 around .30 usd. (entry method below)
Once my 10,000 bts position has doubled to .60 usd. I will close half the position to take my 3k trading capital out of the foray, This will leave me with about 5,000 bts free and clear. By leaving the profit in the account and having a 5-10 year horizon on these trades a small risk now will provide infinite growth in the future.
I have a take profit set for $300 bts turning my $3,000 risk limited position into $1.5 million. Again my time frame is 5-10 years. If this happens sooner that's great if later or never I may be out $3,000.....
BELOW IS MY ENTRY PLAN
I am watching a 12 day pennant on the 1 hour chart forming. This could be a great example of bullish consolidation after the spike on 6/6 and 6/7. If there is a break out above the resistance line I anticipate either a jump in price leading to a new high, or a formation of another consolidation area slightly above the current range without creating a new high.
I am Looking to add more bts at the low range of this pennant. 10,000 bts in increment of 2500-5,000 depending on price action around this area.
IF the support area on the below 1 hour chart is breaces the 50% fib level I am anticipating one of 3 things.
A hard spike down with a quick rebound into the past consolidation.
A quick spike down ward and new consolidation area.
potentially closing the gap around the .00005000 level.
Depending on what happens here I will look to add entry at better prices.
Bookmark this post or jump in with me!
Cheers
and see you on the other side