NXT and IGNIS - The Moment of Truth
Updated
Well, this is it. For all those who are hopeful this coin has one more push up, we shall see soon.
After a large dump off yesterday, NXT seems to have found somewhat of a bottom with some positive signs of divergence to the upside. I warn though, this is a dangerous trade and dangerous territory because NXT is way overvalued. As soon as the snapshot is took tomorrow there's going to be another massive dump off much like what was experienced the day of the EMC2 "mind-blowing" announcement. However, the one thing this trade may have that helps it more than others realize is that IGNIS futures are currently trading at $5 USD. Now with that said, I look for IGNIS prices to drop dramatically as well due to immediate sell off post airdrop. If trading this coin, be weary and pay attention to the trends. I highly recommend using stop-losses. I'll be entering with a SMALL position.
Trade Procedure:
Buy: Less than 9400 sat
Sell: Gonna wait and see what the market does. If this coin reaches 13000 sat again, it'll be extremely hard for me not to sell. I'm not hopeful NXT breaks all time high.
Stop-Loss: 8500 sat for now
Trade Length: 1 day or less
Goodluck!
After a large dump off yesterday, NXT seems to have found somewhat of a bottom with some positive signs of divergence to the upside. I warn though, this is a dangerous trade and dangerous territory because NXT is way overvalued. As soon as the snapshot is took tomorrow there's going to be another massive dump off much like what was experienced the day of the EMC2 "mind-blowing" announcement. However, the one thing this trade may have that helps it more than others realize is that IGNIS futures are currently trading at $5 USD. Now with that said, I look for IGNIS prices to drop dramatically as well due to immediate sell off post airdrop. If trading this coin, be weary and pay attention to the trends. I highly recommend using stop-losses. I'll be entering with a SMALL position.
Trade Procedure:
Buy: Less than 9400 sat
Sell: Gonna wait and see what the market does. If this coin reaches 13000 sat again, it'll be extremely hard for me not to sell. I'm not hopeful NXT breaks all time high.
Stop-Loss: 8500 sat for now
Trade Length: 1 day or less
Goodluck!
Note
Next few hours are critical. I'm hoping the little push up to 9500-9600 sats wasn't all NXT had left in the tank.Note
I am using bittrex instead of poloniex. Values are higher on bittrex so the stop loss may not be appropriate for poloniex. I'm still in this trade and will probably sell on the next swing up which is coming soon.Trade closed: stop reached
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