doc_2023-10-23_22-48-58.png
285.8 KB
Currently, the price of BTC has reached the central resistance platform. As we previously discussed in the public channel, the strategy for going long was to hold steady above the $30,000 mark and follow the trend. Some profits have been achieved, but due to the resistance at this platform, it's becoming more challenging for the price to move higher in the short term.
The overall trend is still upward, but the slope is quite steep, indicating that the market's health is not at its best. There hasn't been sufficient exchange of chips, and chasing long positions with the current risk is high. Instead, we can opt for a cautious long approach, looking to enter when the price retraces to the 29,800-30,000 range and stabilizes.
The overall trend is still upward, but the slope is quite steep, indicating that the market's health is not at its best. There hasn't been sufficient exchange of chips, and chasing long positions with the current risk is high. Instead, we can opt for a cautious long approach, looking to enter when the price retraces to the 29,800-30,000 range and stabilizes.
#BTC
Long position around 33,500 after stabilization.
Set an effective stop loss at 33,000 in case of a significant drop.
Targets: 35,000 - 36,500 - 38,000.
Long position around 33,500 after stabilization.
Set an effective stop loss at 33,000 in case of a significant drop.
Targets: 35,000 - 36,500 - 38,000.
On the weekly timeframe, we have transitioned from oscillation to an upward trend.
We previously mentioned two critical levels: one at the top of the medium-term oscillation range, 28,600. A breakthrough here is a long opportunity. The other is stabilizing at 30,000, which presents significant profit potential.
In trend trading, we follow the trend. Positions can be considered for long trades above 34,000. If we can break and stabilize above 35,000, the next resistance level is near 38,000."
We previously mentioned two critical levels: one at the top of the medium-term oscillation range, 28,600. A breakthrough here is a long opportunity. The other is stabilizing at 30,000, which presents significant profit potential.
In trend trading, we follow the trend. Positions can be considered for long trades above 34,000. If we can break and stabilize above 35,000, the next resistance level is near 38,000."
#MINA
Short at around 0.66
Stop loss at 0.70
Targets: 0.6, 0.55, 0.5
Highly volatile altcoin, do not exceed 3X leverage, and pay attention to position control.
Short at around 0.66
Stop loss at 0.70
Targets: 0.6, 0.55, 0.5
Highly volatile altcoin, do not exceed 3X leverage, and pay attention to position control.
Our current strategy for the market is to prevent the risk of chasing high prices, so we are buying low near 33300, with a close stop loss and high cost-effectiveness.
For MINA tonight, we observe its hourly trend and it has already entered a downward trend. In the case of Bitcoin's oscillation, the probability of further decline is higher. The altcoin has a high volatility, so position control is essential. Please use a small position and strictly stop loss.
Let's talk about some techniques for trading. If we make a certain profit on an order, such as more than 1-1.5%, then we need to set a stop loss for the opening price. This principle is not to turn profitable orders into losing ones.
In addition, position control, we need to consider a loss ratio that we can bear for each order, such as 2%. Then the capital that we can lose when the position reaches the stop loss point should be the proportion that we can bear. This is position control.
The most important thing is risk control, strict stop loss, not against the trend, not against orders. This is also our consistent trend trading.
For MINA tonight, we observe its hourly trend and it has already entered a downward trend. In the case of Bitcoin's oscillation, the probability of further decline is higher. The altcoin has a high volatility, so position control is essential. Please use a small position and strictly stop loss.
Let's talk about some techniques for trading. If we make a certain profit on an order, such as more than 1-1.5%, then we need to set a stop loss for the opening price. This principle is not to turn profitable orders into losing ones.
In addition, position control, we need to consider a loss ratio that we can bear for each order, such as 2%. Then the capital that we can lose when the position reaches the stop loss point should be the proportion that we can bear. This is position control.
The most important thing is risk control, strict stop loss, not against the trend, not against orders. This is also our consistent trend trading.
【TMGM Community】Daily Trading Strategy🚀 pinned «#MINA Short at around 0.66 Stop loss at 0.70 Targets: 0.6, 0.55, 0.5 Highly volatile altcoin, do not exceed 3X leverage, and pay attention to position control.»
【TMGM Community】Daily Trading Strategy🚀
#MINA Short at around 0.66 Stop loss at 0.70 Targets: 0.6, 0.55, 0.5 Highly volatile altcoin, do not exceed 3X leverage, and pay attention to position control.
With some profits already secured, consider moving the stop-loss to a level near the entry price. It's essential to protect profitable trades from turning into losses. If your position size is substantial, you may also consider reducing a portion of your position to manage risk more effectively.
Regarding the long strategy on BTC between 33,500 and 34,000 from yesterday, you may consider reducing your position by 30% if you have entered this trade. Additionally, moving the stop-loss to a level near the entry price is a prudent risk management practice. This will help protect your gains and minimize potential losses.
#MINA
Short position near 0.67.
Set a stop loss at 0.70.
Targets: 0.60, 0.55, 0.50.
This is a high volatility altcoin; don't leverage more than 3X, and be mindful of position sizing.
Last night's rebound hit the breakeven stop loss. Currently, it's still in a downtrend, showing weakness.
Short position near 0.67.
Set a stop loss at 0.70.
Targets: 0.60, 0.55, 0.50.
This is a high volatility altcoin; don't leverage more than 3X, and be mindful of position sizing.
Last night's rebound hit the breakeven stop loss. Currently, it's still in a downtrend, showing weakness.
#BTC
Go long near 34,000.
Set a stop loss at 33,700 in case of a drop.
Targets: 35,000 - 36,000 - 37,000.
Go long near 34,000.
Set a stop loss at 33,700 in case of a drop.
Targets: 35,000 - 36,000 - 37,000.
1. Daily Analysis:
Currently, the upward trend on the daily chart is confirmed, but we've observed multiple attempts to surge higher followed by pullbacks, and we've reiterated in the channel the risks associated with chasing highs. If you don't have a solid position, it's not advisable to chase highs above 35,000, even on the daily chart. The steepness of the overall upward slope suggests a potential significant correction. Even if there's a pullback to 33,000 or 32,000, it won't significantly impact the trend and may present a low entry opportunity. We'll be focusing on these two price levels.
2. 4-Hour Analysis:
On the 4-hour chart, after the initial surge to nearly 36,000, there have been multiple attempts to move higher, but both the highs and lows are showing a continuous lower high, lower low pattern. This has formed a descending triangle pattern, and today we broke below it, testing 34,000. Short-term weakness is evident at the moment. In such high-level consolidation situations, uncertainty is significant, so we continue to emphasize entering with a long position at lower levels and prioritizing risk control.
3. Short-Term Strategy:
Our strategy during the day was to enter long positions around 34,000 with a 1% stop loss, and many have already entered. We hope you keep an eye on the support status around 34,000. If it doesn't gain strength and effectively breaks down, consider a breakeven stop loss. We are focusing on the support levels at 34,000, 33,700, and 33,200 for potential bounce opportunities. Keep stop losses relatively close, around 1%.
Currently, the upward trend on the daily chart is confirmed, but we've observed multiple attempts to surge higher followed by pullbacks, and we've reiterated in the channel the risks associated with chasing highs. If you don't have a solid position, it's not advisable to chase highs above 35,000, even on the daily chart. The steepness of the overall upward slope suggests a potential significant correction. Even if there's a pullback to 33,000 or 32,000, it won't significantly impact the trend and may present a low entry opportunity. We'll be focusing on these two price levels.
2. 4-Hour Analysis:
On the 4-hour chart, after the initial surge to nearly 36,000, there have been multiple attempts to move higher, but both the highs and lows are showing a continuous lower high, lower low pattern. This has formed a descending triangle pattern, and today we broke below it, testing 34,000. Short-term weakness is evident at the moment. In such high-level consolidation situations, uncertainty is significant, so we continue to emphasize entering with a long position at lower levels and prioritizing risk control.
3. Short-Term Strategy:
Our strategy during the day was to enter long positions around 34,000 with a 1% stop loss, and many have already entered. We hope you keep an eye on the support status around 34,000. If it doesn't gain strength and effectively breaks down, consider a breakeven stop loss. We are focusing on the support levels at 34,000, 33,700, and 33,200 for potential bounce opportunities. Keep stop losses relatively close, around 1%.
【TMGM Community】Daily Trading Strategy🚀 pinned «1. Daily Analysis: Currently, the upward trend on the daily chart is confirmed, but we've observed multiple attempts to surge higher followed by pullbacks, and we've reiterated in the channel the risks associated with chasing highs. If you don't have a…»
# Position Control
Today, I'll talk about one method of position control. The key is to limit your single trade losses, and this approach works differently for altcoins and major cryptocurrencies like Bitcoin due to their varying levels of volatility. How can we ensure that our single trade losses don't exceed 2%?
First, let's consider the conditions for setting stop-loss orders. We'll look at two factors: volatility and the Average True Range (ATR). For altcoins with higher volatility, we should set larger stop-loss percentages to avoid being stopped out too easily. Conversely, for major cryptocurrencies with lower volatility, we'll set smaller stop-loss percentages in line with their actual price fluctuations.
Let's assume that a major cryptocurrency fluctuates by 1% daily. Setting a stop-loss at two times the ATR (2%) means we can risk 2% of our capital. If we have 100 units (u), we can trade without leverage, opening a position of 100 units. This ensures that our maximum loss per trade remains at 2%.
Now, if we consider an altcoin with 5% daily volatility, our stop-loss should be set at two times the ATR (10%). With the same 100 units, we need to set a stop-loss of 10 units. This means we can only open a position of 20 units to ensure that our maximum loss per trade does not exceed 2%.
By following such strict position control, it's highly unlikely that you'll deplete your capital entirely. Each time, your maximum loss is limited to 2%.
Note: The ATR (Average True Range) indicator measures the average price range and can help determine suitable stop-loss levels based on current market volatility.
Today, I'll talk about one method of position control. The key is to limit your single trade losses, and this approach works differently for altcoins and major cryptocurrencies like Bitcoin due to their varying levels of volatility. How can we ensure that our single trade losses don't exceed 2%?
First, let's consider the conditions for setting stop-loss orders. We'll look at two factors: volatility and the Average True Range (ATR). For altcoins with higher volatility, we should set larger stop-loss percentages to avoid being stopped out too easily. Conversely, for major cryptocurrencies with lower volatility, we'll set smaller stop-loss percentages in line with their actual price fluctuations.
Let's assume that a major cryptocurrency fluctuates by 1% daily. Setting a stop-loss at two times the ATR (2%) means we can risk 2% of our capital. If we have 100 units (u), we can trade without leverage, opening a position of 100 units. This ensures that our maximum loss per trade remains at 2%.
Now, if we consider an altcoin with 5% daily volatility, our stop-loss should be set at two times the ATR (10%). With the same 100 units, we need to set a stop-loss of 10 units. This means we can only open a position of 20 units to ensure that our maximum loss per trade does not exceed 2%.
By following such strict position control, it's highly unlikely that you'll deplete your capital entirely. Each time, your maximum loss is limited to 2%.
Note: The ATR (Average True Range) indicator measures the average price range and can help determine suitable stop-loss levels based on current market volatility.
1. 4-Hour Trend Analysis
As shown in the chart, after the price broke below the triangle pattern, it dipped to around 33,740 twice before bouncing back. Currently, it's trading around 34,100. We can consider 33,740 as a minor support level. Looking upward, we are focusing on the descending trendline, which corresponds to the current period and is located around 34,366. We see this as a critical indicator of strength or weakness.
If the price fails to break above the descending trendline, we believe it will continue to exhibit short-term weakness and consolidation. Additionally, we're monitoring the current short-term distribution of holdings. Currently, there's a concentration of holdings near 34,000. If the price moves downward from the current position, 34,000 will become a significant resistance level in the near term. To maintain the bullish trend, there shouldn't be prolonged consolidation at the current level.
In the short term, we're looking at 33,740 as support and 34,366 as resistance.
2. Short-Term Strategy
We still have two approaches. The more conservative option is to look for opportunities to buy at lower levels, around 33,000 to 32,000. This approach offers controlled risk. As mentioned yesterday, it doesn't alter the overall bullish trend.
So, Approach 1 involves monitoring the support levels at 33,700 and 33,200. If these supports hold, consider buying at lower levels.
Approach 2 is a breakout strategy. Watch for the previously mentioned level at 34,366. If the price manages to break above it, the bullish trend may strengthen once again.
As shown in the chart, after the price broke below the triangle pattern, it dipped to around 33,740 twice before bouncing back. Currently, it's trading around 34,100. We can consider 33,740 as a minor support level. Looking upward, we are focusing on the descending trendline, which corresponds to the current period and is located around 34,366. We see this as a critical indicator of strength or weakness.
If the price fails to break above the descending trendline, we believe it will continue to exhibit short-term weakness and consolidation. Additionally, we're monitoring the current short-term distribution of holdings. Currently, there's a concentration of holdings near 34,000. If the price moves downward from the current position, 34,000 will become a significant resistance level in the near term. To maintain the bullish trend, there shouldn't be prolonged consolidation at the current level.
In the short term, we're looking at 33,740 as support and 34,366 as resistance.
2. Short-Term Strategy
We still have two approaches. The more conservative option is to look for opportunities to buy at lower levels, around 33,000 to 32,000. This approach offers controlled risk. As mentioned yesterday, it doesn't alter the overall bullish trend.
So, Approach 1 involves monitoring the support levels at 33,700 and 33,200. If these supports hold, consider buying at lower levels.
Approach 2 is a breakout strategy. Watch for the previously mentioned level at 34,366. If the price manages to break above it, the bullish trend may strengthen once again.