Let's analyze the short-term market of OP today
First of all, OP did not fall below the previous low in this callback, and a hammer line with large volume appeared near the support level, which is a stop-loss signal. After the market stopped falling, it did not step back to the support level again. Overall, the bulls are relatively strong. Considering that this is a four-hour retracement to the support level and a stop-loss signal appeared, this position can be regarded as a short-term entry point.
Although there is no reversal signal at this position, it is acceptable to have a stop-loss signal near the support level. It is expected that the subsequent market will usher in a wave of rises.
When entering the short-term trading, be sure to set a stop loss and don't be lucky. Many people are not clear about the stop loss position, and the short-term stop loss is usually set a little below the support level, but it should not be set too far. After all, short-term trading only grabs a few points of profit each time. If the stop loss position is too far from the entry position, it loses its meaning.
The core of short-term trading is to lose less when making mistakes and make more profits when correct. Successfully catching a short-term trend market will bring huge benefits. Although there may be ten small mistakes, as long as you catch a trend short-term, you can make up for it and earn more. Therefore, short-term trading requires strict risk control.
The four-hour market changes rapidly, short-term trading should be stopped when it is profitable, and you should not get yourself into trouble because of greed.
