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Trading ideas and logic during the day
The long position strategy is as follows:
1. Enter long around 3750 on a pullback, set a stop loss below 3720 or near 3690 for additional positions, stop loss at 3660, take profit at 3840-3950 (the stop loss and take profit space is reasonable, especially if additional positions are not at a loss).
2, near 3720 for the initial position, add 3670-80, stop loss just below 3660 + a little. Take profit at 3750-3840 (3750 is the take profit level after adding positions). The long position's risk-reward ratio is still acceptable above this. The take profit and target levels can be a bit lower; the main goal is to exit when possible, with flexibility.
The short position strategy can be implemented in batches near the resistance level: start with a position at 3890, add around 3960, set a stop-loss at 3975 and take profit at 3840-3750 and below. Overall, the daily line is still bearish, and from a pattern perspective, it hasn't reached the target. The reason for considering a long position during the day and then reassessing in the evening is that we are currently in a rebound phase. Whether it can rebound is another matter, but the thought process is that it is in a rebound. Additionally, the basis for entering at 3750 is that it may form a secondary head-and-shoulders bottom structure, focusing on intraday trading for now, so let's keep it at that for the time being.
Bitcoin expands the time level differently compared to Ethereum, primarily favoring short positions. The strong resistance above is around 111600+, which is also the stop-loss point for short positions. The take-profit point remains near 104400-102000 (the low point on October 10, take profits in batches). The volatility of Bitcoin differs from that of a single day, so with the same margin, Bitcoin only needs to enter once, allowing for a larger stop-loss, thus there's no need to add positions. Take profits can be done in batches to capture the larger trend.
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