I am noticing a bullish setup for Grin (GRIN). My trading idea is to buy around current levels with a stop loss order around 0.00016, an initial target around 0.00029, and a secondary target of 0.00035, but if bullish volumes come in, it could go higher. As seen in the chart below, GRIN/BTC appears to be have formed a market structure bottom and is testing the resistance cloud.
As seen in the Daily chart above, the accumulation/distribution line is inching upward, the MACD made a bullish crossover and is also about to bullishly cross the zero line, the Willy is moving up bullishly, and the Fisher Transform Indicator just made a bullish cross. Note that price has recently risen above the 88.6% Fibonacci retracement level.
Remember, if you choose to trade, then feel free to exit your position whenever you wish – keep in mind that this is only a trade idea.
A common strategy is to sell half of one’s trading position at or near a double, and ride any additional gains on top of that while keeping a trailing stop loss. Always remember to exercise proper risk management, and don’t invest more than you can afford to lose.