Currently, all short positions have been closed. Since 2980-85 has not been broken three times in a row, you can't be stubborn. The market has been oscillating, increasing the risk. There is also a news factor at three points that is beyond control. Personally, I have liquidated my positions. Holding onto positions with news risk is very torturous; it's best not to turn profitable trades into losses.


There are two conflicting points at the moment. The first is that above 2970 is generally considered bullish, but there is a pullback. We are dealing with 1-4 hour pullback trades. Whether the pullback turns into a reversal requires time to play out. Holding short positions before the news is risky—not because of the direction, but because of stop-loss placement. Poorly set stops can lead to random whipsaws, so there's no need to gamble.
The second point is that, theoretically, the daily wide-range oscillation zone is between 2780 and 3070. This means there is a possibility and probability of reaching 3070. With the news, setting stop-losses and entering trades both have about a 50% chance. 2780 is the starting point on the daily chart.
Of course, holding long-term short positions, such as for about a week, isn't a big problem; it's just uncomfortable to be trapped. Once the price breaks through and stabilizes above 3070, the probability of reaching 3200 increases. Hedging strategies are not within the scope of consideration.
Under normal circumstances, it's better to take trades one by one and avoid being stubborn.
It's somewhat difficult to make over 100 points profit in one go, as 80% of the time the market is in wide-range oscillation.
Personally, I believe a reasonable stop-loss for short positions is above 3070 (the turning point between bulls and bears and the previous short entry point). For long positions, a reasonable stop-loss is 2915 (yesterday's entry point).
We will make decisions tomorrow; trades are never finished.
View Original
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 1
  • Repost
  • Share
Comment
0/400
TheTideIsTurning,Huhvip
· 5h ago
This market won't break above 2980.
View OriginalReply0
  • Pin

Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)