Platon Trading Academy presents a brief overview of what will be today’s daily trading session about.
Doge has recovered quite quickly from the recent drawdown and now is attacking the 0.28-0.30 zone. Its too early to tell if it reverses or if we are going to get a breakout. If we get a pre-breakout pattern forming, then we want tobe watching it.
Nothing new to share on BTC. So let me focus on the trade management. If you followed our instructions and went long on the reversal at the 31-29K now is time to move Stop loss of your trade to the entry point as we reached the middle of the range. We always have to keep in mind that we need to protect the profits we already made. Therefore I also suggest closing a half of this trade and securing some profits that way too.
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Disclaimer: This is not an offer for concluding a contract. Trading cryptocurrencies is a highly risky business and as such you are the only person bearing the risk and responsible for your own decisions. Do not engage in trading unless you do your own research and are fully knowledgeable of the risks.