LONG DEFIPERP on FTX for 8% Profit

Sep 8, 2020

Good morning Europe and Good afternoon Asia (and Good night to the Americas)

Sharing a Long on the DEFIPERP Indices on FTX. This index also exists on Binance but I'm used to trading the FTX one

It's a weighted sum index of the DeFi crypto tokens. Very easy to trade because the movements are slower compared to individual DeFi tokens displaying sometimes -/+ 90% in a single day

Setup

Entry: In the purple box

This trade is a bit risky and isn't completely bullish just yet. Though, the setup looks interesting - that's why I enter cautiously with a pullback

Take Profit: Aiming a bit before the Daily Traditional Pivot R1

Cheers
Daveatt

Sep 8, 2020

Trade active

Reducing the position size
Trade not invalidated yet but not going in the right direction

Sep 8, 2020

Trade closed: stop reached

Hard exited with a 30 USD loss