Trading Rules Lesson Seven (Final Episode) - Practical Exercises
BTC
1. Utilize the high-probability triangular convergence method through technical analysis. Patiently wait for opportunities as the oscillations gradually narrow, allowing the market to determine its direction. Finally, confirm the direction and follow the market's main force when attacking (with an increase in trading volume).
2. The triangular convergence method is a commonly used trading technique. Avoid blindly speculating on the market direction. Let the market decide the direction through a triangle formed by two trend lines. Eventually, it will present a pattern of narrowing oscillations until it chooses a direction.
3. In the early stages of triangular convergence (entry can be made using trend lines), take advantage of market oscillations to identify opportunities, as shown in the yellow circle in the diagram. Wait for the direction when entering the narrowing tail (at the apex of the triangle). As the oscillations decrease, profits decrease, and risks increase. Wait for a safer market direction.
4. Pay attention to the upcoming Bitcoin halving, considering each retracement as a good entry opportunity. Gradually build positions at the bottom to reduce holding costs.
5. Set stop-loss near the red-framed area near the upper and lower edges of the trend lines. For take-profit, consider upper resistance levels and lower support as reference points.
Follow the risk calculation taught in the previous lessons to determine the leverage size, position management, and adjustments to stop-loss. With confidence, believe that trading will become smoother. Wishing everyone profitable outcomes in the market!
