$UNI - choosing where to reload

Sep 20, 2020

UNI will reload either at 5 or 3 level.

Right now struggling to stay above this support level and stop it from turning resistance.

Will monitor this situation closely.

Sep 20, 2020

Note

As predicted - broke down. Looking at 4.8 or 3 to enter a trade with tight stop loss.

Perhaps will try both, with tight stop. Continue monitoring this.

Sep 20, 2020

Note

Entered at 5.15 with a stop at 4.75 (-10%). Let's see if this level can be held. If it looks dicey may manually close it, but I do think 4.80 will hold.

Sep 20, 2020

Trade closed: stop reached

Got stopped out at 4.65 with a 10% loss. I got taken out by the wick.

Lesson: don't buy into weakness. Even if the entry looks tasty at support, bad macro market conditions (BTC dumping) and weak volume were not a good sign.