Today's market analysis (10.19)

1. Good afternoon, everyone. I am your old baby Chen Changsheng. After three days of volatile market, I rarely update my ideas for placing orders because I am not a swing trader. Everyone knows that I am a trend trader. At present, our short orders in the range of 68800-69200 have already made a floating profit of about 500 points. I think there will be a market over the weekend because the trading volume is not up to standard and the purpose of the dog dealer is not achieved. Because Friday generally determines the trend of the next week, we only need to place this order to protect our principal and loss.

2. Recently, people who are bullish and bearish on the square have their own opinions. I have also read a lot of posts recently. Let's take a look at the weekly K. If there is no market today or tomorrow, then the closing line is around 68000, which is not good for both long and short. In terms of structure, if the closing line is above 68000, it will definitely hit around 7w, but the risk of chasing high is also very high. If you don't exit in time, you will most likely stay on the top of the mountain. I am optimistic that the big cake will break a new high in the future, and I am also optimistic about 8w, but it must not be now. At the previous high of 7w, a large number of longs will definitely stop profit or even go short because it is going too smoothly. In the past, when it hit 7w, it would definitely turn around and wash out the long position 1-2 times. This time, there was basically no decent retracement. It even just inserted a needle and then pulled up in a short time. Many people say that the bull market is back and forth. I always feel that the bull market has never come. When the market is singing bullish, you should think twice before acting. Many people should say that I am singing bearish because I am shorting. That is a big mistake. I am shorting but I still make money when I close the position. I missed this round of pull-up, but I went from 589 to 622. The stop loss was more than 600 points in the middle. I took two short orders later. There are many ways to play long and short. The same is true for shorting. There are profits. It depends on how to play. I don’t chase long because I think the fishtail market is unnecessary. The risk is greater than the benefit. I might as well go short. I follow the trend.

3. Next week, I personally don’t look at 72-73. I am optimistic that it will go to around 65 first, or even lower. Short orders are placed to protect the principal. However, I think there will be a pull-up. The purpose of the dog dealer was not achieved yesterday. It is probably in the range of 69600-69950. It is likely to be touched. So after setting the breakeven point, this position is the point to go short again. The target remains unchanged. I wish you all a happy weekend. It's been a busy week. Everyone should take a good rest. I'm going to go fishing first! 😎 $BTC $ETH