Why is it that when doing intraday contracts, you may be bullish today, but become bearish the next moment? Why does intraday contracts require quick reactions and good skills?
Why it’s scary not to understand trends.
The following content will let you know how you lost your money and why you have to learn technology all the time.
Let’s first review the analysis post of WLD on Monday
Here's what was said on Monday:
The current price is a false break of this high point
Judging from the 4-hour trend, the green line position is a key position.
It has served as support and resistance, and the current price is a false break of this high point.
The screenshot below is a detailed explanation of Monday’s post (with evidence to avoid nitpicking)
Monday's post gave 3 trends
(Solutions for not being able to see the image content clearly: 1. Find the analysis post on Monday. 2. Save the image to your phone and enlarge it.) Uploading will compress the image quality.
The price of the three trends finally conforms to the 3 trends
Why did the price go down afterwards? Were the analysis plans 1 and 2 rejected by the market?
What details are there? How can we find them?
First, let’s go back to the historical scene.
Use K-line playback to see the details
We use white lines to divide each trend
The trend has changed in the last section
The commonly used Fibonacci method can be used to see the depth of the callback
This trend has a deep pullback and has exceeded the 0.618 position
Using price action to unravel this trend
(See the content with the picture)
1. Trends
2.2 Segment callback
3. Trading range
There is a reason to enter a short position at the position in the picture below
1. The price is now in a trading range
2. At the top of the trading range
3.15 Small-level double top structure
4. The stop profit is placed at the lower track of the range, which is also the position we mentioned in the previous post to take more
But this position is not very safe now. If you must place an order
It is safer to place the stop loss at a lower high point. You don’t know whether the price will change.
The 1-hour high point is a false break, so the safest stop loss is to place it at the position I mentioned.
Very unfriendly to newbies
Then the price is supported at the bottom of the range. Can we enter the market by forming a bullish engulfing pattern?
Yes, but it does not meet the requirements of Panda Trading Academy
1. It is just a bullish engulfing, which is a relatively left-side trade
2. Panda Trading Academy requires that the signal K-line number is high one before trading on the left side and high two before trading on the right side.
Is it wrong to enter the market and stop loss on the left test?
That's right
Just a different trading style
Left-side trading requires multiple stop losses
The right side will be much more stable
But the right side will also be empty
Pros and Cons
Then when this K-line appears
No matter how much you expect, it will no longer be there.
The price has fallen below the range, you need to observe whether it is a true or false breakthrough
But this kind of thing is really broken and rarely can be pulled back
Many people may still be thinking about buying at the bottom at this time
Because I just stopped the loss, I developed a mentality of not wanting to lose.
The more you fall, the more I will buy
But this mentality is wrong.
The market rejected your plan.
It's not something shameful.
Trading is all about probability and profit and loss ratio
Now your plan has been rejected.
You just need to prepare new plans to face the latest market conditions.
You have to remember that the market is always right
If you want to make money in the market, all you have to do is follow the market.
The price then fell back to the lower limit of the range.
Support turns to pressure
The two positions of the circle
15 minutes is a good entry point
From the above analysis and market transformation process
People who understand
You should have found the problem with your order making
I also know how I lost my money.
You should also know what you lack.
You should know what your next priority is.
The above analysis only includes price action.
There are still many details that cannot be presented one by one
After all, it is impossible to say everything you know and learn in one post.
I hope you understand
Finally, I want to tell you
You want to fight and make money in this market
Having technology is your life skill
I hope this post is helpful to you
We are the Panda Trading Academy that specializes in technology
I will continue to output this type of posts to help everyone practice and learn
Thank you for your attention and likes.
