As a newbie on trading cryptocurrencies, I found Stop-Limit Order does no longer fit my strategy in a situation like this:
Ater a huge price pump, the market price has stabilized at around $450 now. I believe that the market FOMO has been alleviated. I intend to cash out and believe $499 would be a firm resistance, but I need a confirm if the price drops from $499 to $490, otherwise the market may break out. However, I am worried about not getting timely updates on the market moves due to my recent busy schedule or sleeping.
So, I might need to preset a sell order with two sequenced triggers here: the frist at $499, and then at $490.
The scenario is like this: the first stage is a rise towards $499 from $450, in which no trigger has been done although the $490 had been surpassed, because triggering at $499 is a prerequisite for triggering at $490. The second stage is a hit at $499 with the first trigger done. Then the third stage is a retreat to $490 with the second trigger done. And finally, the sell order become active.
Otherwise, if the market breaks out, I'd like the sell order cancelled automatically or keep being unfilled, because the price is more likely go further high like $600, so I can remain the chance to adjust manually after I wake up.
So, what can I do to time the trade AUTOMATICALLY when I am sleeping?