Took a long position of $KNC in 20 minutes, peaked at 0.1938
In the afternoon, I opened a long position near 0.17, with a stop loss at 0.1555 and a take profit at 0.19.
After entering the market, it took off directly, peaking at 0.1938, which was 4 points higher than my take profit, indicating that my strategy was completely correct.
Why did I take this trade?
1. Market signals
There were obvious buy orders around 0.17, and it couldn't drop any lower. The orders on the market continued to push upwards, indicating someone wanted to push the price up.
2. Market rhythm
At this time in the afternoon, KNC was continuously making small upward candles without selling pressure, entering meant waiting for acceleration.
After entering, it took off directly, reaching 0.19 in 20 minutes. You could say it was a high point direct.
Although it peaked at 0.1938, I have no regrets; securing profits is what matters.
With funds entering the market and a favorable risk-reward ratio, I went for it directly.
In 20 minutes, 500🔪 in hand, I won't be greedy no matter how much it rises later.
