Hello there, fellow traders! If there's one thing that keeps us on our toes, it's the unpredictability and the dynamic nature of trading. There's always a unique scenario unfolding, a new challenge to tackle, a different trade to navigate. One such situation we often encounter is when our entry looks to be flipping into resistance or support. Today, I'd like to share how I personally approach this situation. To start with, a quick recap on resistance and support levels. Resistance refers to a price level where selling is strong enough to prevent prices from rising further, whereas support is a price level where buying is sufficiently strong to stop prices from falling further. These are invaluable tools in technical analysis, and ones I rely on in my trading strategies. <center></center> ***So, what do I do when my entry appears to be tipping into resistance or support?*** First off, I don't panic. The financial market, with its innate volatility, can often resemble a rollercoaster ride. And while an entry flipping into resistance or support might initially seem alarming, I remind myself that it doesn't automatically spell disaster. It might just mean the trade needs more time to develop. This is why patience and solid risk management are paramount in my trading approach. My next step is to re-evaluate my original analysis. I reflect on the reasons behind my trade entry: Have the fundamentals changed since I entered the trade? Is the overall trend still aligned with my initial assessment? Has there been a noticeable shift in market sentiment? It's essential to remain flexible, as the market landscape can change swiftly. If my original analysis still holds true, I typically decide to stay with the trade. However, I'm always vigilant about maintaining a good risk-to-reward ratio and employing stop-losses sensibly. My stop-loss is strategically positioned to limit potential losses if the price breaks through the resistance or support level. That said, I avoid setting it too close to my entry point, as market volatility can sometimes lead to premature exits, which I'm not particularly fond of! However, if market conditions have taken a turn since my entry, I may opt to cut my losses and exit the trade, or at least adjust my position to suit the new circumstances. Not every trade is destined to be a winner, and understanding when to step back is a skill that I like every trader, must master. In conclusion, an entry flipping into resistance or support is part of the trading journey, not a catastrophe waiting to happen. My strategy revolves around staying composed, revisiting my initial analysis, and making a data-driven decision based on current market conditions. After all, trading isn't just about making winning trades - it's about managing risk, making informed decisions, and continuously learning from the market's fluid dynamics. And, as always, practice makes perfect. The more you encounter these situations, the better equipped you'll be to handle them. Make use of demo accounts to hone your strategies and reactions to various scenarios. Over time, flipping into resistance and support levels will become less of a roadblock and more of an opportunity for tactical decision-making. There you have it, folks. That's my two cents on how I maneuver through the potential turbulence of resistance and support levels in trading. Remember, every trade, win or lose, provides an opportunity for growth and learning. So, stay patient, keep learning, and happy trading! ___ <sub>*Image source: Generated by AI Midjourney Prompt: Someone is confused, cartoon style, 3D --ar 16:9 --q 2 --s 750 --v 5.1 (own prompt)*</sub>
author | jaouad2d |
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permlink | my-approach-to-entries-flipping |
category | hive-167922 |
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voter | weight | wgt% | rshares | pct | time |
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kdtkaren | 0 | 2,242,801,125 | 50% | ||
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honusurf | 0 | 1,248,599,629 | 50% | ||
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drwom | 0 | 2,230,950,778 | 6.63% | ||
pixresteemer | 0 | 89,800,450,779 | 14% | ||
esteem.app | 0 | 3,996,233,510 | 13.26% | ||
minnowspower | 0 | 771,747,432 | 100% | ||
iptrucs | 0 | 9,340,608,070 | 25% | ||
auleo | 0 | 1,125,023,597 | 2.65% | ||
abmakko | 0 | 6,856,426,204 | 50% | ||
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dynamicrypto | 0 | 12,216,113,745 | 15% | ||
jnmarteau | 0 | 761,678,874 | 2% | ||
cherryng | 0 | 1,432,130,383 | 2.65% | ||
technologix | 0 | 90,345,908,125 | 100% | ||
cryptictruth | 0 | 31,436,883,589 | 7.5% | ||
asimo | 0 | 8,123,572,219 | 100% | ||
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crypticat | 0 | 3,152,115,786 | 1% | ||
dgi | 0 | 517,050,337 | 20% | ||
jk6276 | 0 | 11,355,800,839 | 40% | ||
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ebot2020 | 0 | 0 | 100% | ||
kggymlife | 0 | 3,516,769,346 | 20% | ||
photographercr | 0 | 6,144,946,070 | 2.65% | ||
poliwalt10 | 0 | 3,739,223,589 | 10% | ||
vaped | 0 | 1,951,290,551 | 50% | ||
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trendovoter | 0 | 4,507,842,785 | 100% | ||
trendobounty | 0 | 27,787,850 | 100% | ||
faireye | 0 | 1,518,346,254 | 100% | ||
travelpic | 0 | 496,533,385 | 100% | ||
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vihan | 0 | 0 | 100% | ||
winebank | 0 | 0 | 100% | ||
ctpx | 0 | 1,001,603,396 | 20% | ||
peerfinance | 0 | 49,932,074,752 | 100% | ||
yozen | 0 | 539,077,255 | 10% | ||
simbank | 0 | 0 | 100% | ||
thecryptopimp | 0 | 3,016,139,249 | 9% | ||
tokenpimp | 0 | 131,133,108,903 | 9% | ||
pimptoken | 0 | 914,132,217 | 9% | ||
wine-ico | 0 | 338,420,899 | 100% | ||
saltyreptile | 0 | 6,924,769,132 | 16% | ||
moraviareosa | 0 | 14,810,254 | 100% | ||
core.voter | 0 | 214,590,359 | 100% | ||
re-public | 0 | 544,305,627 | 5% | ||
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vault.burn | 0 | 5,327,146,221 | 100% | ||
theguru.photos | 0 | 189,581,905 | 100% | ||
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lanchik | 0 | 2,240,601,588 | 13.26% | ||
kraaaaa | 0 | 2,016,752,983 | 4.5% | ||
kavii | 0 | 156,126,593 | 100% | ||
psyberx | 0 | 675,979,005,987 | 20% | ||
soonlambo | 0 | 2,079,085,156 | 50% | ||
sunset.curator | 0 | 746,575,631 | 50% | ||
chaosmagic23 | 0 | 29,901,984 | 1.11% | ||
splinter100dedos | 0 | 1,200,251,282 | 100% | ||
soyuntito | 0 | 5,043,404,651 | 100% | ||
waivio.welcome | 0 | 462,250,067 | 0.94% | ||
queenstarr | 0 | 29,497,853,486 | 100% | ||
bmngn | 0 | 0 | 1% | ||
elon.curator | 0 | 3,436,801,234 | 100% | ||
vickoly | 0 | 19,189,995,870 | 50% | ||
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vyb.curator | 0 | 632,033,415 | 100% | ||
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deysiromero | 0 | 485,122,489 | 100% | ||
aresteris | 0 | 747,657,321 | 100% | ||
bitcoin-lb | 0 | 32,910,721 | 1% | ||
helios.voter | 0 | 7,400,804,932,719 | 100% | ||
mamaemigrante | 0 | 3,050,688,343 | 6.63% | ||
onos-f | 0 | 503,563,755 | 2% | ||
xecency | 0 | -164,142,374 | -13.26% | ||
psyber-x | 0 | 2,174,824,508 | 20% | ||
psyberx.witness | 0 | 7,921,443,859 | 20% | ||
ctptips | 0 | 2,217,929,965 | 15% | ||
titoraffles | 0 | 2,074,851,099 | 100% | ||
psyberwhale | 0 | 31,942,605,325 | 16% | ||
ieronimus | 0 | 0 | 1% | ||
btc-lb | 0 | 0 | 1% | ||
playertito | 0 | 505,272,452 | 100% | ||
sthor | 0 | 0 | 1% | ||
hive.defender | 0 | 2,743,165,515 | 50% | ||
satoshinakamto | 0 | 1,720,398,827 | 50% | ||
bee.voter | 0 | 4,297,829,218 | 100% | ||
pob.voter | 0 | 4,155,303,136 | 100% | ||
alive.voter | 0 | 4,743,726,944 | 100% | ||
alive.trader | 0 | 1,737,702,675 | 50% | ||
pobtrooper | 0 | 1,747,536,995 | 50% | ||
pobwarrior | 0 | 1,747,590,856 | 50% | ||
darkpob | 0 | 845,261,498 | 50% | ||
psyberxnode | 0 | 12,129,451,666 | 18% | ||
flagsandwich | 0 | 782,561,130 | 50% | ||
gptman | 0 | 1,197,878,445 | 50% | ||
unsubscribe | 0 | 3,115,000,026 | 18% | ||
epiko | 0 | 189,460,107 | 100% | ||
jaouad2d | 0 | 21,063,600,111 | 100% |
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<div class='pull-right'>https://files.peakd.com/file/peakd-hive/beerlover/yiuU6bdf-beerlover20gives20BEER.gif<p><sup><a href='https://hive-engine.com/?p=market&t=BEER'>View or trade </a> <code>BEER</code>.</sup></p></div><center><br> <p>Hey @jaouad2d, here is a little bit of <code>BEER</code> from @pixresteemer for you. Enjoy it!</p> <p>Did you know that <a href='https://dcity.io/city</b>you can use <b>BEER</b> at dCity game</a> to buy cards to rule the world.</p> </center><div></div>
author | beerlover |
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permlink | re-jaouad2d-my-approach-to-entries-flipping-20230520t152853472z |
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author | ecency |
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permlink | re-2023520t19939828z |
category | hive-167922 |
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Congratulations @jaouad2d! You have completed the following achievement on the Hive blockchain And have been rewarded with New badge(s) <table><tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@jaouad2d/upvoted.png?202305191449"></td><td>You received more than 900 upvotes.<br>Your next target is to reach 1000 upvotes.</td></tr> <tr><td><img src="https://images.hive.blog/60x70/http://hivebuzz.me/@jaouad2d/payout.png?202305200202"></td><td>You received more than 10 HP as payout for your posts, comments and curation.<br>Your next payout target is 50 HP.<br><sub>The unit is Hive Power equivalent because post and comment rewards can be split into HP and HBD</sub></td></tr> </table> <sub>_You can view your badges on [your board](https://hivebuzz.me/@jaouad2d) and compare yourself to others in the [Ranking](https://hivebuzz.me/ranking)_</sub> <sub>_If you no longer want to receive notifications, reply to this comment with the word_ `STOP`</sub> To support your work, I also upvoted your post! **Check out our last posts:** <table><tr><td><a href="/hive-139531/@hivebuzz/proposal-2324"><img src="https://images.hive.blog/64x128/https://i.imgur.com/RNIZ1N6.png"></a></td><td><a href="/hive-139531/@hivebuzz/proposal-2324">The Hive Gamification Proposal</a></td></tr></table>
author | hivebuzz |
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permlink | notify-jaouad2d-20230520t154454 |
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author | hiveupme |
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permlink | 20230521t031539210z |
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author | pixresteemer |
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permlink | 20230520t152836389z |
category | hive-167922 |
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created | 2023-05-20 15:28:36 |
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root_title | "My Approach to Entries Flipping into Resistance or Support Levels" |
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