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SXPUSD trade ideas

Choppy markets but money to be madeThe last few days have caught many people off guard with the unexpected 40-50% crash. The bitcoin news in El Salvador was short lived and markets reacted with huge crashes. Keep your losses small and the wins bigger, many of my sl were triggered but many of my limit orders hit. Sxp was one of them I traded the idea on the 13th of August and my limit order of $2.70 was hit. Patience pays off and always stick to your strategy. Crypto gives many opportunities as the market is so volatile. My tp will be in the yellow box area.
BINANCE:SXPUSD
by Ryecatcher
4
SXP should bounce hereNow the 5th of the C wave is marking, This should complete the wave 2 somewhere here, and I expect a stronger rebound to the Wave 3 from here. If there is more pressure on crypto and it starts ranging being corrective lower here then it was not a 3 wave correction (wave2) but a 5 wave C wave in overall sub of the wave2, that means the larger wave 2 is extended in the larger abc expanding. Goes lower under 2 probably and shoots up for the wave 3. I prefer the end of correction here though and buying up from here. But will have to look at a strong rebound in an impulsive way.
BINANCE:SXPUSDLong
by tempertrade
5
SXP vs SXPUP and SXPBULLWhen you see the chart of SXPBULL, you may see that it came down from several hundreds of thousands USD to 4 USD, losing its 99% of value. You may think when SXP increases, it may recover and see its ATH again. But it doesn't seem to be the case. SXPBULL is too fragile against dumps. When you compare SXPUSDT together with leveraged tokens SXPUP (Binance) and SXPBULL (FTX), you will see that leveraged tokens are not good for the long term, but good just for the short term pumps. SXP performed much better than SXPUP and SXPBULL. Over the course of the first 5.5 months of 2021, SXP did 454% whereas SXPUP did 243% and SXPBULL lost 77% of its value. We see that Binance's leveraged token SXPUP performs much better than SXPBULL, probably due to the variations in their strategies. SXPBULL is a 3X leveraged token which reinvests the earned amount. When the market goes down, it decreases several folds. For it to increase sharply, you have to see several (6+) consecutive green bars so that it can recover from the most recent dump. However SXPUP uses an adjusted leverage. When the market goes down, it reduces the leverage ratio so that you lose less. I think SXPUP provides lower risk-lower reward due to its automatic leverage adjustment depending on the market conditions. However in a market that is frequently dumped and pumped like this season, SXPBULL loses momentum and goes to the dip whereas SXPUP can tolerate these dumps and manage to provide good profit (though less than SXP).
FTX:SXPBULLUSDShort
by aladagemre
4
Alternate CountThis seems like a possible count. $2.60 is the level that Must Hold for this to be right. Like I said before, I am not selling my coins that I bought at $5 And I will buy a LOT more if it goes to $3! xD xD xD Curious about the big volume in this consolidation though, which is part of the reason I don't want to sell. Large volume usually indicated a wave 3, which could mean we are already in the next uptrend and don't know it yet. Hence, HODL and buy the dip. Just my opinion though.
FTX:SXPUSD
by MonetaryRebel
1
$SXP is ready here with many others #Swipea perfect 1:1 abc correction swiped the lows and almost touched the GZ of the subwave 1. This was one of my previous options and with the rejection at the top of the subwave B and selling volume coming expected this BTC driven drop. There might be one more leg down but I dont see it going lower than the GZ highlighted. BTC can go into lower area as well. More importantly this is a perfect buy zone for SXP, and if it again touches the lower 4s its a no brainer buy into imo, with little downside risk. Potential is to the tens of highs could be significant from here. I expect a wave 3 from here in an impulse turbo mode.
BINANCE:SXPUSDLong
by tempertrade