Here is a strategy and some ideas and tips to manage periods of rapid rise.
First, you must know that this period is the last before the reversal and is between one and three months in which the market is good. In other words, I wait two years for this month to three months.
📌 Set specific profit targets for each currency on more than one resistance exit area and determine them using technical and fundamental analysis. Your analysis must be logical. And be committed to the goals.
📌 Divide the exit from investments.
Do not sell all your currencies at once from one price.
Sell parts when you achieve each of your pre-determined goals.
📌Using technical analysis
Take advantage of technical analysis tools such as supports and resistances, reversal patterns, or any school you master, while integrating more than one indicator, the most famous of which are the Relative Strength Index (RSI) and the MACD to determine the trend, weaknesses, and appropriate exit
📌Continuously follow market news and developments
📌Avoid making decisions to enter or exit the market based on emotions or fear of missing out (FOMO). Keep calm and follow your goals and pre-planned strategy
📌Do not move between currencies and do not chase green candles.
📌Do not re-enter after exiting the market, no matter how tempting, and stick to the plan and goals.
This, and God knows best
Copied