As I mentioned in my previous post. The #OP/USDT is a bullish token. I believe that it will soon break out the all time high and will make a 100% to 200% price action.
Usually, after long consolidation. The price that breaks the all time high becomes too bullish that it can go as high as 100% or 200%.
I now have an entry point. As my trading strategy, I will hold and hold tight to ride this bull market specially the #OP/USDT token.
Not just hold, but I'm also gonna add more in my position the more it goes up. For my risk management, I usually don't use average down as it is more risky and prone to wiped out your entire fund.
I am more on cutloss and average up. When the price continue to move in my favour. I will add more. However, if the price didn't go in my favour, I will cut my losses and cut it quick and small.
I believe this strategy is called pyramiding. 25% for initial entry. If I am correct, I will add an additional 25% on a good entry point. Then additional 25% then the last 25%. For as long as the price is continue with my bias.
If in case that in my initial 25% shows me a loss and hit my cut loss point. Then I will cut my losses quickly and reanalyze my trade.
So, for now, I am just holding tight and looking for a good new entry point.
Good luck and Happy hunting!!
