【M head】 Continuing from the first article, $BTC is still viewed more favorably at present. But I have corrected the convergence triangle again, and it is still in a state of breakthrough.
I caught $BTC ’s little head today Picture 1 is the M head that I originally drew with a satisfactory decline. Figure 2 shows that it has indeed fallen, and even oversold.
It is normal to be oversold. Many people cannot bear the final selling pressure and another wave of selling pressure will appear. - Will the second wave of decline be satisfied? I think it will be more difficult. If there is volume below, it means the support is relatively strong. But this is not absolute. After all, it is impossible to predict the rise or fall 100%.
*Correction: Halfway through the game, I found that I had dropped two waves😂
Figure 3: You can see the position where I bought, which is where the line just broke.
Then I’ll be satisfied if I can do it in one wave with 125 times the usefulness~
Yesterday I shared my actual operation, because there was not much fluctuation today, it did not fall below the support, and it did not rise sharply.
> We are still waiting and watching. Once the stop loss is set, there is no need to follow the rise and fall of prices.
- I was just checking the top trading volume rankings and found one that seemed to be making a head, so I was watching to see if the line break was established.
You can see Figure 1 $WLD , forming a *head and shoulders top* The calculation of sufficient decline is from the high point of the head, shoulders and neck to the position of the neckline After breaking the line, you can start to calculate the decline
A little trick is that if you see it falling, it will fall to an unreasonable price, such as very low, close to zero, or even a negative price.
You can turn on the logarithmic chart to calculate the drop rate, first calculate the first wave and then the second wave.
- In terms of my operation, I sell short only after it rebounds after falling below the line.
Just like what I said in the previous article, if I don’t catch up to the position where the line broke at the beginning, then I will wait for it to rebound before entering the market. This can reduce the loss of my stop loss.
Then my loss will be set when it falls below the upper high point on the front line. Taking this level as an example, I may be around 7.38.
【Experience Sharing】 The previous article mentioned how to increase the bet, but the market situation was not good. So I still followed the rules and showed up.
The entry point can be seen in Figure 2. The left side is my increase record. I set the stop loss at the low point I originally thought.
In the end, it does exit the market, because if it falls below the low point, it will usually continue to fall, so stay on the sidelines. - You can see that I entered the market on the right. The purpose this time is different from the original one. It is to speculate on the short-term rebound.
I opened a margin of 100 times and 2%, so my risk is just this 2%. If it is gone, it is gone. As a result, I made more than 200% by exiting the market.
- I’m still learning~ My overlay points were not good, and I didn’t come out in a timely manner.
There is room for improvement in every transaction, and you must keep in mind the purpose of each entry.
Later, my goal in short-term trading was to slowly make up for the amount of my stop loss.
Of course, I am still bullish in the long term and have put some positions in it.
This sharing of opinions, I hope someone who reads it will be helpful to you.
Take today’s operation as an example for your reference if you read this article.
Because I am still bullish on this wave, I waited for the opportunity to buy when it fell back. As a result, $ETH was too strong, so I didn’t pull back much, so I didn’t buy it.
$BTC was originally listed to buy at 70685, but saw it kept falling. Just wait for support to fall and buy again around 69845
- The logic of operation is like this Originally I was going to buy more when there was a "breakthrough", but I missed the opportunity and the price had already gone up when I saw it.
At this time, you should stabilize your mentality and don't rush to buy after chasing high prices!
It doesn’t matter if you didn’t buy it, just wait until it comes back and buy it again So as mentioned above, the position where I bought in Figure 1 and Figure 2
Figure 3 and Figure 4. The original pressure for this wave of decline and rebound was to use the five-minute line to look at the two largest high points during the decline. During the day, we were observing whether there was a breakthrough, or whether the breakthrough failed and then fell again.
The result is a breakthrough, so the pressure becomes support
There will be two stop losses for this purchase. The first short-term support is around 70300. If it falls below, half of the price will be paid. The next one is to break through the lower edge of 692000. Once it falls below, my operating habit will be to sell everything.
These lines were drawn previously, but they are not 100% accurate. It will still be adjusted according to the situation, and then the operation method will be changed.
The above operations are for reference only, share some experience ~