📊Operation on $NEIRO: Taking Advantage of the Bearish Trend! 📉
I want to share a trade I just made in the cryptocurrency NEIRO, and it was a success!
A few minutes ago, I identified a clear bearish trend on the NEIRO chart. The candles were repeatedly touching the 7-period Moving Average (MA), which is already a sign of selling pressure. The interesting thing was that every time the candles touched the 25-period MA, the cryptocurrency pulled back, confirming the resistance at this level.
With this information, I decided to open a short position at 0.00044790 USDT. And I was not wrong! The price continued to decline, allowing me to close the trade at 0.000044068 USDT.
This trade left me with a profit of 1.65 USDT. It may not seem like much, but in trading, every gain counts and teaches us something new!
What can we learn from this trade?
Identification of Trends: It is essential to know when an asset is moving downwards (or upwards) to make informed decisions.
Use of Moving Averages: Moving Averages (MA7 and MA25 in this case) are powerful tools for identifying supports and resistances, as well as confirming the trend direction.
Risk Management: Although it was a small trade, it is always important to have a plan and know when to enter and exit the market.
I hope this little explanation is helpful to you. Let's keep learning and growing together in this exciting world of cryptocurrencies!
Would you like to share your own experiences? Leave me a comment! 👇
