Market Overview

• Market sentiment: neutral.

• News highlights: Nothing to be mentioned.

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Screening Results

• Coins in focus: MKR, 1000SATS, MELANIA

• Criteria for selection:
  • High trader’s interest
  • High market volumes
  • Density within order books

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Trade Ideas

1. MKR/USDT

• Reason for selection: Huge density on a round level 1280,0.

• Timeframe: 1 to 5mins.

• Key levels:
  • Entry: 1281
  • Stop-loss: 1280
  • Take-profit: 1300

• Risk/Reward: 1/15.

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Executed Trades

1. MKR/USDT

The first try, in the morning.

Summary of trades placed:

• Entry price: 1280,97. Exit: 1304,59.
• After a few minutes of consolidation, the price increased rapidly to the value of 1310 and began to slow down. I decided to exit without waiting for a pullback.

Later evening, after the second approach, the density was quickly broken up.

• Summary of trades placed:
  • Despite the fact that the density remained, from the second time sellers were able to sell the price down quickly.
• Lessons learned:
  • Large densities at round values can be traded off.
  • In case of decreasing density – exit without waiting for its complete dismantling.

2. 1000SATS/USDT

• Summary of trades placed:
  • I saw a large density in the order book and entered from it. The price increased quickly, but after making a pullback to the entry point, I added 2 more orders to the position and after the next wave of growth, fixed 1.15% profit.

In 2 hours I decided to repeat the trade, but at this time the density was instantly eaten. Position was closed by stop-loss of 0,5%. And the price continued on its downward trajectory.

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Conclusion

From large densities, trading from large densities can and should be done. However, it is very important to make sure that this density is not quickly dismantled, otherwise a breakout will occur.