Today is NEIRO/USDT, a very regretful day, haha, maybe it’s bad luck, all cryptocurrencies are falling.
Let me first explain why I bought NEIRO. It had broken through the previous high the day before and had shown a bullish trend.
The 4-hour candlestick chart has a large trading volume and broke through the highs of the past few days, which is a strong bullish trend.
Then, I thought I should buy when it retraced, pulled Fib from the recent low to the highest point, and submitted a limit buy order based on the 61.8% position.
But I didn’t expect the market to be so bad today. When it reached the 61.8% retracement position, it stayed for a while and then continued to fall sharply.
I had set SL originally, but I felt that the rapid decline was generally to liquidate the recent longs, so I set SL at the bottom.
Next time, I might place a limit order directly at the bottom before the rise, to be more conservative.
I continued to buy some when the decline stopped, which would lower the average purchase price. When NEIRO rises, it will be easier for me to recover the account.
This is my first article. I didn’t want to write it because I lost money today, but I should record the truth.Haha, maybe my luck is a little bad today, I don’t know why. The market is bearish.
Don’t give up.