LIVESpermalytic
@Spermalytic
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Lesson: Trust your analysis and strategy.
Few days ago I shorted $SOL based on resistance and Fibonacci speed fan. but i closed the position too soon with minor profits because of impulse.
However now based on this simple analysis, I am expecting two scenario:
Bullish: bouncing back up after stabilizing around 101$-102$ in which I may potentially long because it's still respecting the general trend of the analysis.
Bearish: In case the candle closes below the Fibonacci line, there maybe a retest if that fails, $SOL it may drop to areas of minor support round 93$-96$
Few days ago I shorted $SOL based on resistance and Fibonacci speed fan. but i closed the position too soon with minor profits because of impulse.
However now based on this simple analysis, I am expecting two scenario:
Bullish: bouncing back up after stabilizing around 101$-102$ in which I may potentially long because it's still respecting the general trend of the analysis.
Bearish: In case the candle closes below the Fibonacci line, there maybe a retest if that fails, $SOL it may drop to areas of minor support round 93$-96$
When you see wicks like these you know the market is very volatile and it has a lot of manipulation. These wicks are the cause of many liquidations.
The system doesn't understand all it takes is a brief moment and right volume at the price and all open orders get liquidated.
What you could do??
⛔Stop loss always
🏋️Set Limit orders around these resistance levels with tp around the support.
🧠Think in percentage not amount. 10% is the same percentage even if your portfolio 100 or 1000 but in amount it's different. 10% of 100 is 10$ but 10% of 1000 is 100$ (this is the most important.
In the case of $TRB , the past few days have been volatile the right approach you can keep your position and still improve your entry
If you like, follow I will write more posts about math logic and trading psychology.
Love you all. Stay safe. Win big.
The system doesn't understand all it takes is a brief moment and right volume at the price and all open orders get liquidated.
What you could do??
⛔Stop loss always
🏋️Set Limit orders around these resistance levels with tp around the support.
🧠Think in percentage not amount. 10% is the same percentage even if your portfolio 100 or 1000 but in amount it's different. 10% of 100 is 10$ but 10% of 1000 is 100$ (this is the most important.
In the case of $TRB , the past few days have been volatile the right approach you can keep your position and still improve your entry
If you like, follow I will write more posts about math logic and trading psychology.
Love you all. Stay safe. Win big.
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