Yesterday did not see a market rebound, but continued to decline, from the perspective of the form, it is the continuation of the downward line segment in the 4-hour timeframe. The rebound on the weekend for 1 hour is just a small spark of effortlessness for the bulls. There is not much to talk about in terms of technology, still waiting for the right buying point to appear.
Current structure on the 1-hour timeframe:
After the consolidation divergence, there was a rebound, but it did not enter the rhythm of the bulls. Looking at the current form, there is still room for downside, so going long definitely still requires waiting for the right opportunity (1-hour or 30-minute timeframe double bottom).
It has been snowing across the country in the past two days, and the neighboring stock market is in a difficult situation again. This morning, I also saw a lot of alarming news. Here, I also give myself a warning: when trading, one must make their trading system stable, a gentleman should not stand under a falling wall. But how can this be achieved? Those who have truly traded must have a deep understanding of making themselves stable. There are probably only a few key points, and here I want to summarize again:
Must operate within one's own trading system, do not make trades that are not planned. (Refer to Bit Emperor, only make a move when the daily trend is as expected. Although it is not known if he uses the K-line theory, it can be seen from his operations.)
Persist in adding positions only on the right side. In contrast to this, it is like adding positions to lower the cost when there is a floating loss, completely not operating at the buying and selling points. Or after a position is at a floating loss, adding positions at what one considers to be buying and selling points, but it is still an opportunity on the left side, is very likely to increase the floating loss. These operations will only make oneself more and more passive. But once the opportunity on the right side is confirmed, at least the market may have entered one's rhythm.
Always adjust one's expectations and position dynamically according to the market trend. A mature trader must know how to adjust their expectations of the trend according to the market's changes. Once the market shows a trend that is not in line with the initial expectations, one must adjust their own thoughts. And dare to adjust the position when the market shows "wrong signs". At the beginning, there will definitely be many times of selling at a loss, but this step is essential because it is necessary to make oneself not resist orders and survive in the market for a long time. Dynamically adjusting the position means that even if there is a trend extension in the opposite direction (such as the current downward extension of Bitcoin), the floating loss is still within one's controllable range.
Eliminate off-exchange leverage. With enough stable profit-making ability, even a small amount of capital can increase in the hands of a mature trader. The ability to experience a trough and rise again is truly powerful. Off-exchange leverage is definitely due to greed. If money is very much needed in life, using off-exchange leverage to make money in the market is definitely not a good choice, but a choice that has led to the ruin of many families!
Always believe in one's own abilities, believe in the power of technology and trading systems. Linked to the previous point. This is also the reassurance that allows oneself to survive in the unpredictable and ever-changing market. No matter how terrifying mistakes or losses may appear, one must firmly believe that they can do it well. In the long trading career, one or two failures, or even dozens of failures, are just a drop in the ocean, and what does it matter to our lives?
Finally, I hope everyone can grow in trading, see life, and see themselves.
Simple terminology explanation:
Timeframe: A unique concept in K-line theory, representing the market in two dimensions of time and space. The larger the timeframe, the longer the time and the greater the fluctuation space, generally 4-hour timeframe, 1-hour timeframe, 30-minute timeframe, etc.
Trend type: Divided into consolidation and trend, with rising and falling trends; each timeframe has corresponding trend types.
Line segment: The secondary trend type composition, "a segment of a certain level" specifically refers to a line segment.
Divergence: Refers to the end of a rise or fall, where the price reaches a new high/low, but the momentum clearly weakens. Usually judged with the help of MACD.
The views in the article are for learning and reference only and do not constitute investment advice.
If there are friends who want to operate together, seize the opportunity of the bull market and high-quality altcoins, you can add my WeChat (vhenrythu) for consultation and exchange of learning!
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