After a well deserved rest over the weekend, my focus was to get back into the game once again. I was surprised to see when I woke up earlier today that the entire market was red. This led me to find outliers and high volatility plays to reach my daily quota. As always, anything I mention here is not financial advice but my thoughts and my plans on the tokens discussed.
In my watchlist yesterday, I was planning to trade NEAR, WAVES, and GMT. What caught my eye, however, was APE was doing pretty well considering how red everything was so I traded that too.
Yesterday I mentioned a bounce occurred and it may have been the signal for a good bounce of BTC, but after breaking out the Gann Box, it quickly crashed with volume back into the Gann Box then puncturing through to its current price. There is a positive light to this. There was a solid rejection of the downtrend in the last hour which showed a bullish hammer. Hopefully in the next few hours this is the real bounce and we can see a solid bullish movement.
I shorted GMT earlier today after the sudden pump. My entry was actually too early but I had another sell order set at 2.54 area, but it didn't reach it. My average was enough to earn substantially for the day as I went in pretty big here.
I went long on this when I saw the hammer down there. It was actually pretty lucky that I was monitoring it at the time of the crash and I knew that it was a solid entry point. I got out after a bit of gains as I put my trail stop a bit too high so it got hit.
When I woke up, I noticed that this was the only one on my watchlist that was green. This meant 2 things for me. One, it was an outlier that was going bullish and I can ride this, or it's an outlier that is soon to crash. The moment I checked the chart, it seemed like it was going to go back down after failing to break the 12.2 area.
I'm looking at RUNE, LUNA, and GMT for tomorrow's plays. Let's see what happens!
