Steem price is NOW into support. IS IT A BUY?

Now is a good time to risk a purchase of STEEM. At what price and strategy? There is strong support in the .80 to .90 cent area. The current price is 1.08, and on an initial entry an open stop loss should sit at .74 (or .34 cents on 1.08 or about 33%). Initial Position size should be 1 or 2% of portfolio, and in no case exceed 3% . You should know your comfort zone. An open stop loss is (always) highly recommended. Personally, I would say critical to trading longevity. Study the chart price action below to follow my reasoning / strategy.

If / when the price breaks over 1.26 and then 1.60 on a closing basis, another position(s) can be added. Consider open stops resting above the market at those price levels. Separate stop losses on those filled positions should be applied immediately, each being 25% of purchase / entry price. Other momentum purchases will present themselves once three closes over 1.60 confirm trading action in the next few days / weeks. Hope this is not too confusing for you, but it is about scenarios, expectations, market confirmation, momentum and risk.

End of week 1 for me on STEEM, so I'm still learning. If you find this information helpful, follow me- BluePortal - check out the previous Dec. gold futures submission , send a comment, and up vote my efforts!