Those who can buy are apprentices, those who can sell are masters, and those who understand holding cash are the ancestors! In trend swing strategies, the choice of entry points is secondary, while the choice of exit points is key. However, good capital management is the soul of trend swing trading.
A new week begins, and last week's market structure met expectations. Let's first look at the weekly level. Last week, the weekly candle closed as a small bullish candle, and the pullback at the MA7 resistance was anticipated. This week, we will still focus on the short-term small boundary near the MA7. The thinking remains unchanged, maintaining last week's view. If it cannot break through and stabilize, we will continue to see a consolidation adjustment forming a box structure. If it can fully break through and stabilize, we will look towards the major boundary near 3800. Below, we will first pay attention to the support near the low of the previous candle, and then to the support near the tip of the previous candle.
At the daily level, there have been multiple tests near the MA60. We can continue to focus on this line. If it breaks down, we need to refer to the strong support near the EMA200. The structure at the daily level can be estimated to form a box, with the upper and lower bounds referenced as the range of 3550-3130. A valid breakout above or below will require us to look for a new structure; otherwise, we will continue to reference this large box. At the 4H level, we will pay attention to the resistance near the EMA200 above, and below we will first focus on the dense area of the weekend's candles. If it effectively breaks down, we will look for support near the lower bound of the box.
12.30 Short-term suggestions: If 3550 does not break, short between 3500-3530, looking for 80-120 points.
If 3280 does not break, long between 3330-3300, looking for 80-120 points.
If 3130 does not break, long between 3180-3150, looking for 80-150 points.
The above suggestions are for reference only; please manage your risk.
Wishing you successful trading!
Alright, friends, we will say goodbye until next time. I wish everyone continued success and smooth sailing in the crypto world! More real-time suggestions will be sent internally. Today's brief update ends here. For more real-time suggestions from Big Coin, find Gege.
Written by/ I am Trader Gege, a friend willing to accompany you in your resurgence.
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