In just a few short hours, the market rose from 98 to 102, a straight distance of 4000 points!
So, when you look at the square, isn't it just a pile of people making money?
When it falls, there are always people asking why you didn't short.
When it rises, there are always people asking why you didn't go long.
At any time, in any market condition, there are people going long and short, and if you make trades based on what others say, you're likely to see others profiting while you are losing, and then you wonder why you lose when you follow them and win when you don't?
You make a firm decision to follow through, and in the end, you blow up!
This is similar to yesterday's market being full of fear, and today it appears that FOMO (Fear of Missing Out) has emerged; a big drop means the bears have come, and a slight rebound means the bulls are back!
In my trading, I only look at: fundamentals, logical analysis, and market trends, and I pay little attention to random news. Can you keep up with all this news?
100,000 is my support level; if it breaks down and I can't recover, I'll short. If it holds firm and doesn't break down, I'll go long. Where's all that hype and nonsense!
If the daily line shows a long lower shadow and pulls back within 100,000, if it cannot break down again within 24 hours, then just go long. If it breaks down again, then just short it.
Ultimately, whether it's a trap for longs or shorts, the market will choose a direction. Be patient and wait; trading is not about gambling on size; I don't move unless the enemy moves; it's just following the trend.