Before entering an order, what do you do? Just look at the Chart, check the Top - Down timeframe, set TP/ SL accurately, manage capital well, but the order still goes against the trend...😵
⭐So what do you need to do? It's not that you're wrong, but you're focusing on micro and ignoring macro factors. Macro is not about being overwhelming or grand; simply, you need to have the overall picture before entering an order.
🎁I will share with you a few things that I see as very necessary when setting up the overall picture in my order of priority:
1. The market always tends to follow BTC, BTC is the lighthouse of the entire market. Why? Because BTC accounts for about 60% of the market capitalization. So how should we view BTC?
I often check where BTC liquidity is, the simplest way is to look at 2 contents:
- Liquidation heat map: access Coinglass, the yellow areas are dense liquidity zones, where Retail and Whales 🐳 place Long/ Short orders, this is where the Stop Loss hunting will take place. The area that requires the market price and is brighter is more likely to be hunted.
Personally, I see the market running towards the liquidation zone up to 70-80%.
- Funding rate: Negative funding means the market has many Short orders, Positive funding means the market has many Long orders. MM will go against you to liquidate.
2. Review the order entry history: What day is it today in the week? If it's Friday, and especially the last Friday of the month, liquidation events, options contract closures, etc. will occur.
3. News about Funds, ETF cash flow, Trump taxes
4. Macro information: no need to follow too much, just need to monitor:
- FED news about interest rate increases/ decreases
- Non-farm payroll indicators, Consumer Price Index (CPI), Producer Price Index (PMI), unemployment rate...
5. In/ out cash flow: of the assets you are about to enter an order, especially Spot needs to be observed
The last thing is you set up the order according to your strategy!
Wishing you a successful new week! 🚀
👉 Let's board the ship together $BTC $ASTER $BNB
✨
