When judging market trends and setting stop loss and take profit, you can adopt the following strategies and methods:
1. Determine the market trend
Technical Analysis:
Observe the historical price trends and use technical analysis tools such as chart patterns (such as head and shoulders tops, double bottoms, etc.), trend lines, moving averages, etc. to identify potential trends and reversal points.
Use technical indicators, such as the relative strength index (RSI), MACD, Bollinger Bands, etc., to assist in determining the overbought and oversold state of the market and the comparison of buying and selling forces.
Fundamental analysis:
Pay attention to factors that affect the market, such as macroeconomic data, policy changes, industry dynamics, and a company's financial status and profitability.