We Were Wrong

Louis Sykes
December 21, 2022

The strategy was simple: long Coinbase $COIN above the May lows while cutting our losses below there.

And, lo and behold, it took out those pivot lows. Like any responsible trader using good risk-management practices, we took the loss on the chin and got out of the position.

We were either plain wrong or got the timing off on the trade, so we stuck to our plan and obeyed the price action. We thought the stock was good for a bounce.

But, clearly, COIN had other ideas.

 

 

 

 

Article Sales Message

All Star Charts Crypto Members Receive

  • Our professional research delivered to your inbox
  • High conviction trade ideas to make money
  • Full coverage of entry and exit signals across the crypto landscape, including major coins, altcoins, and other tokens
  • Video conferences every week
  • Alerts to cryptocurrencies before they become mainstream
  • Custom indices, correlation, trend strength and relationship analysis
  • Access to Rangefinder – our proprietary app for tracking trade ideas in real time (annual members only)

You need to have a subscription to access this content in full.

Log in or subscribe
Filed Under