Going Long DJT

#stocks #trades #trader #longentry #longsetup #DJT #long

Trading Fam,

It’s no secret that the Trump admin is and has been pro-crypto. What is a bit more clandestine is knowing in which ways the Trump admin will support crypto, and even more specifically, which crypto? Which blockchains? Which technologies? All of the more specific details need further clarity for the market to become more comfortable with the proclaimed “pro-crypto” stance.

What is clear is that the Trump admin is pretty vocal about their pro-crypto bias. And the other thing that has become clear is that they are buyers and hodl’ers of certain crypto, even memecoins (some of it Trump-related though of course).

Trump Portfolio - Source Finbold

Today, we were provided even more clarity as Trump Media & Technology Group (TMTG) registered trademarks for Truth.Fi investment vehicles. We can see in this registration the plan to launch a Bitcoin Plus ETF. I assume the “Plus” portion means that this ETF will not be singularly focused on Bitcoin but may include other crypto assets such as Ethereum.

Indeed, my thesis here is supported by recent activity by Blackrock, which just purchased another 280 million worth of ETH. Eric Trump has been projecting that ETH is a good buy here. Finally, Trump’s project bought ETH recently.

I already had the DJT stock focused in my TradingView list for a potential entry, but the recent news above makes it even more enticing for entry here. So now, let’s take a closer look at my chart and some potential trade strategies on the DJT stock.

DJT

You will observe at least two big positives from a technical perspective:

1. We are inside a bullish liquidity block

2. We have just skirted that PoC on the VRVP to the upside

I have chosen to enter this trade here at around 30.69. I’ve set my stop just below the last dip low at 24.64 and will be targeting 54.61 as a final target. This brings my risk-reward ratio to a very nice 1:4.

My strategy will be to hold all of it until we reach our first resistance at which point I will probably unload %50 and raise my stops to above break-even keeping us in floating profit.

The remainder 50% I will ride to our final target. I am unclear at this point whether I will take another 50% off or unload the remainder for a juicy 78% profit. The technicals should shape up for me by then and give me more clarity so watch that spreadsheet and my chat for these details as they become more apparent. In the meantime, here is my stock tracker link with the details of this trade along with all of my additional winning trades thus far. We are doing well traders. Let’s keep up the success here!