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Happy weekend～
On the night the Federal Reserve cut interest rates, both the live broadcast room and the community provided everyone with the position to place orders at 3425. After hitting a high of 3446, it fell all the way down to this low of 3142. Many people asked where it would drop to. At that moment, my answer was to first look at the major level from the position of 3000, and further out at the last low of 2600. I also said that after a big drop, there must be room for a rebound. After hitting the low of 3142, due to some ridiculous news, it bounced back up to the position of 3272. Now, this is good; the original profit space was nearly 300 points, but profits were given back by about 155 points. I also said that after a big drop, there must be a rebound. There were quite a few people who bought long at the support between 3245-50, and as it rebounded, various statements started popping up, saying that 3500-3600 must explode the shorts, and that the bulls will never compromise, along with various Binance jargon. Those going long definitely hope for a rise, so may I ask, is there no resistance level when the rebound rises to a certain position? There are also support levels when it drops. Last night, after the U.S. stock market opened, it rebounded a bit before starting to plunge. Many brothers had poor positions for their short orders and were likely washed out before the U.S. market opened. Although they missed out on a lot of profits, they basically still made money. From the beginning, I said that after the Federal Reserve cut interest rates, the news of Japan raising interest rates followed. If there are no significant positive developments in the market later, the probability of a drop is very high, and there is also the possibility of testing lower points below. Everyone has a different view of the market, and the way of thinking about trading also varies: short-term, small scale, large scale, position control, all affect your mindset in trading. Currently, it has dropped to this position of 3041, and the support has stabilized. There isn’t much market activity over the weekend, so everyone doesn't need to keep staring at the screen. Spend more time with family and girlfriends, go out to relax, eat, and have fun. There will be plenty of market opportunities in the long run.
PS:
Lastly, I’ll say this with a bit of a grudge: my fan chat room is a place for everyone to communicate, joke around, and discuss happily. Please respect each other and communicate. Whether trading long or short, be cultured in your speech and leave some room for others. Different viewpoints should be discussed mutually, so we can all improve and make money together. Any suggestions I give are my personal opinions; if you like to listen, then listen, if you don’t like to hear it, then don’t watch or listen. In my chat room, if anyone curses, I will strike back hard～ Meeting adjourned. To add a note, how much distance is there from 3041 to 3000? This time, I won't be a fool～ Bah.