A stop order is an order to buy or sell an asset once the price of the asset reaches a specified price, known as the stop price. When the stop price is reached, a stop order becomes a market order.
Filecoin makes massive impulses and it appears we could be on the verge of a massive one soon. The descending trendline has been respected 3 times and its a good indicator as to when the market will shift from a bear market to a bull market.
For this trade we can utilise the buy stop order and get in as soon as the market makes its big move up. The good thing about using this is that if price continues to go down, our order will not be filled and we wont be at risk.
Trade Idea:
- Put a buy stop order above the descending trendline (not too close incase price spikes above and comes back down)
- manually input SL below the recent lows
- target the significant price points indicated on the chart
If we do get a massive spike, you can be in and out of this trade within a few days and bank over 100% easily!
Goodluck!
Filecoin makes massive impulses and it appears we could be on the verge of a massive one soon. The descending trendline has been respected 3 times and its a good indicator as to when the market will shift from a bear market to a bull market.
For this trade we can utilise the buy stop order and get in as soon as the market makes its big move up. The good thing about using this is that if price continues to go down, our order will not be filled and we wont be at risk.
Trade Idea:
- Put a buy stop order above the descending trendline (not too close incase price spikes above and comes back down)
- manually input SL below the recent lows
- target the significant price points indicated on the chart
If we do get a massive spike, you can be in and out of this trade within a few days and bank over 100% easily!
Goodluck!
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