Slow is fast—what AVAX taught me.
① AVAX consolidates between 7.8300 and 8.1990. I don’t guess the direction; I wait to see which side has a volume breakout and break through—then follow that.
② During the sideways range, I don’t guess the direction either. I wait for signals.
③ Stop-loss comes first. In a range-bound market, what I fear most is getting itchy to trade—so I’m fine just placing orders like selling high and buying low.
AVAX is stuck in the 7.8300–8.1990 range. The current price is 7.9630, and the RSI is 44.6. In this kind of choppy consolidation, I don’t bet on a one-way move. I’ll only go long if it breaks above 8.1990. If it breaks below 7.8300, I’ll exit immediately. In the middle, I stay put.
Position sizing matters more than direction. With the same trade, a full position versus a 20% position can lead to completely different mindset and results.
I’ve laid out my approach—whether it works or not depends on the market. You can reference it, but don’t blindly follow.
Don’t envy others for taking profits; first make sure you won’t be the one getting cut.
#AVAX #trading journal
① AVAX consolidates between 7.8300 and 8.1990. I don’t guess the direction; I wait to see which side has a volume breakout and break through—then follow that.
② During the sideways range, I don’t guess the direction either. I wait for signals.
③ Stop-loss comes first. In a range-bound market, what I fear most is getting itchy to trade—so I’m fine just placing orders like selling high and buying low.
AVAX is stuck in the 7.8300–8.1990 range. The current price is 7.9630, and the RSI is 44.6. In this kind of choppy consolidation, I don’t bet on a one-way move. I’ll only go long if it breaks above 8.1990. If it breaks below 7.8300, I’ll exit immediately. In the middle, I stay put.
Position sizing matters more than direction. With the same trade, a full position versus a 20% position can lead to completely different mindset and results.
I’ve laid out my approach—whether it works or not depends on the market. You can reference it, but don’t blindly follow.
Don’t envy others for taking profits; first make sure you won’t be the one getting cut.
#AVAX #trading journal
