LUNA/USDT Buy Long | S6T2 - Team Trading Post for Team Frontline
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👉 Brief Introduction of the Terra Luna Project (LUNA)
For the fourth day, I have selected the Terra Luna project as my Trading Coin for the day. Terra Luna is also defined as LUNA as their native Token of the Terra blockchain. In previous days, LUNA coin has been discounted for a very low price as compared to the previous few months. It was really happened due to the BTC crash. However, we can directly say this is a coin with big potential. That's why it has recovered with a good volume as compared to other coins or tokens. Let's look at a screenshot of Terra Luna's official website.
Screenshot - https://www.terra.money/
This is another powerful smart contract-enabled blockchain same as ETH and SOL. Therefore, everyone who is willing to create any Type of Dapps can easily create a new project on this Terra blockchain and they can contribute to developing their apps.
Luna is basically working from the mechanism of Proof of Stake. Therefore, it is not necessary to create miners using any hardware powers such as Bitcoin and other coins that are working on the Proof of Work mechanism.
According to my analysis, Terra Luna is also defined as an Ethereum killer due to its blockchain strength and transaction speed.
👉 Which exchange can be traded on
Luna is another very popular and heavy potential project in the Cryptocurrency field. So, it has been listed with a lot of major exchanges including Binance, Huobi, and Kucoin. Below I have mentioned the Top 10 exchanges that can be used as a Trading platform for Luna Tokens.
Screenshot - https://coinmarketcap.com/currencies/flow/markets/
👉 Why are you optimistic about this Token today
Same as the previous week, I am not going to buy this coin in my spot wallet. Because already I have some amount of Luna in my wallet that I bought from the bottom (From 55$). However, still, if someone needs to buy this coin as a long-term investment, he can buy this token using the dollar cost average technique.
So, today, I will trade on this Luna token using Futures Trading. Because I'm much familiar with the scalping trading technique and today I will use a bit different technique. So, I will take my entry using a 5min chart as I need to exit from the market soon. This is because there is a lot of bad news in the market as compared to good news. So, it's better to take entry points without wasting time. However, there is some good news too. So, it will be a better opportunity to gain higher rewards within a few minutes.
👉 How long do you think it can rise?
In fact, this Token will definitely rise with very good profits in a few days. But, Today, I wish to take my profits within a few hours or minutes as I'm following a 5min chart to take my entry and exit as soon as possible.
So, in this post, I will invest 40$ by multiplying it up to 400$ which means that I'm going to take my entry for 400$ using 10x leverage. It is more than the previous week's Trades. Because today I have to exit from the market as soon as possible due to indecision situation in the market. However, the Trading strategy and the coin are different.
I have already completed the fundamental analysis part of this Coin above. So, it's time to do my technical analysis part. Here I've chosen the LUNA/USDT pair and firstly I will analyze my chart using a 5min chart. Let's do it.
Screenshot - https://www.tradingview.com/chart/
According to the above screenshot, you can see the indicators which I have used in this Trading strategy. That is the Parabolic SAR indicator and Stoch RSI Indicator that were clearly explained by academy professors in the past season. At the same time, I have used support and resistance zones to identify the exact support and resistance levels to place my entry and exit points correctly.
So, here you can see the Parabolic SAR has given the exact buy signal. At the same time, I have taken my entry when the Stoch RSI forms a bullish Cross. Let's take our entry.
Screenshot - Binance Mobile App(Futures)
Above I have clearly shown my Buy entry transaction details. You can clearly see that I have taken my entry from the exact location that I have marked in the chart.
I have taken my entry using 10x leverage. Here I have closed my order from the exact location which I marked in the above screenshot that contains the price chart. I must mention that I have marked the nearest resistance zone to take exit point and nearest support zone to set my Stop-loss level.
According to the below screenshot, you can clearly see that Target has reached the same as my expectation. I have successfully earned 0.40USDT for the 400$ investment that I earned within 5 Minutes.
Screenshot - Binance Mobile App(Futures)
Finally, I have closed my order as explained above. Let's look at my sell order.
Screenshot - Binance Mobile App(Futures)
Like I said earlier, I have already closed my order according to the relevant Trading Plan. And also, I have earned 0.48$ as my net profit for this 400$ investment. In addition to that, I also took some other quick entries.
Definitely, I recommend this coin for anyone who is willing to take a good profit as a long-term investment. Because this Token has reached more than 100$ when we look at its all-time high price. However, as usual, if we take short-term entries like Futures entries, we should place a tight stop loss as it is very risky to take entry points in this very volatile market.
This is all about my Trading post and I thank you to professor @abdu.navi03 for including me in your valuable Trading Team.