Following the previous point, let’s review the matter of Takong Ordi.
It’s useless for friends to do analysis in the comment area, just do it and be done with it.
To put it bluntly, this time the lack of control is really not a problem of my analysis, but a problem of execution.
As shown in the red box in Figure 1, when I analyzed XRP on the 15th of last month, I talked about a technique for dealing with losses: after the stop loss is hit, if you find that the trend has not reversed, you should look for opportunities to get the order back.
But in the operation of ordi, I did not strictly follow this technique.
As shown in Figure 2, after ORDI fell below the bearish wedge (green line), there was an obvious pressure line (red line) and an obvious support (blue line).
Then on November 29th, I inserted a pin upward and made a false breakthrough. This time I stepped in to go long, and then I was hit because it was a false breakthrough.
What about after a false breakout?
The price did not fall below the support. After two days, it broke the red line again.
——At this time, the skills we mentioned above should come into play. The trend did not continue downward but broke up again. The order should be taken back. But I was annoyed that it had faked a breakthrough last time, so I hesitated and didn’t enter the market. So it was empty.
To sum up this process, the problem does not lie in technical analysis, but in execution because of emotions and failure to strictly follow the rules.
The above is my reflection on this trip. For reference.
