One flower, one world; one tree, one Bodhi. Sorry, I walked into the wrong set. Waking up to a new market, Bitcoin is at 106,000, and the second coin peaked around 2,439. Last night I entered at 2,304, which was a right-side breakout trade. The reason for entering was simple: betting on a breakout.
This range was marked before; the first rebound to this range was immediately knocked down, and the second deep wash continued to touch the edge. I saw the market looking pretty strong, so I chased the long position because I thought the second touch and sideways movement were to induce shorts. So I took a gamble. This kind of smart market entry feels great, going with the trend is usually right, but I gradually closed my positions and didn’t make much. If I had held above 2,400, I might have made over 1,500, but in the end, I pocketed less than 600.
Trading contracts is all about waiting for such opportunities. Last night, there was no pattern because I was afraid of trouble. At such a high position combined with the recent waterfall decline, I guess not many dared to go long at 2,304. This is the courage and contrarian nature of trading contracts; many are going short here, just waiting to induce shorts.
Of course, when you win, you can say anything. The main thing is that it didn’t drop below 2,280; if it had, I might have exited. I feel luck is also a key factor in contract trading. Every integer starting from 80 is crucial, including around the current 2,380. Spike movements don’t count; as for Bitcoin, I don’t know if it can hold 104,000.
Today I’m heading back to my hometown, BYD Seagull is on the move!!!! $ETH