Last night I went to bed too late. This morning, I missed the long position at 2360, take profit at 2400. Not executing it means I didn't lose money, waiting for the next opportunity. Even if I didn't execute, I’ll analyze the logic of this trade. Yesterday I analyzed the range, 2282-2422. Last night, the price’s shadow line broke above 2351, the Fibonacci 0.5 support/resistance line. I wanted to wait for it to break 2351, then pull back to confirm it’s not falling, and then go long. The target is the previous high, the Air Force Command, 2385-2422. I zoomed out to the hourly chart, setting the target price at 2400. On the 1-hour chart in the morning, after the pullback to 2351 confirmed support was valid, I switched to the 5-minute cycle to look for breakout entry opportunities. After the 5-minute candle closed above 2358, I felt the stop-loss space was a bit large. I would wait for the price to return to the 0.618 retracement level in the 5-minute correction zone to go long. A pullback to the 0.618 level can be bought directly, with the stop-loss placed slightly below the previous low at 2347. But you don’t know if the price will drop straight through, so I waited for a 1-minute breakout upward, then entered at market price. The entry was at 2361, with a take profit at 2400.

View Original
post-image
post-image
post-image
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin