[Gainer Show] Make Profits By Shorting In The Pullback Wave
In the first few weeks, the market rallied through several resistance lines and rocketed to 5,400. Under such a skyrocketing trend, experienced investors knew the pullback is just around the corner. As expected, the uptrend of the popular cryptocurrencies came to an end last week and the small pullback made the bull market stabilized. Let’s take a look at how the investors grab the pullback opportunity!
- Short XRP — Making a Profit of 256,200 Yuan
This is the perfect enter & exit the market in my trading history. Two days before the entrance, I mainly traded according to the upper shadows and lower shadows. In the third day, I shorted when the price rose to the peak 0.37 and exited the market after the price pulled back to 0.33 or less, the whole trading process was completed within a day, which made me accumulate the experience in judging the candlestick market.
2. Short XRP — Making a Profit of 130,000 Yuan
It’s easy to make profits when you see the market trend. As the saying goes “No big loss if you follow the crowd”. Instead of looking forward to the unilateral rise of the currency price, I’d more prefer to the oscillating market. When some investors longed all of a sudden, I followed them, and then I shorted as the market rose to the peak, which is the so-called “judging the trend”.
3. Short XRP — Making a Profit of 26,000 Yuan
Long-term bull will lead to bear. In the earlier period, three large rises of XRP appeared with the market, then the battle between longs and shorts lasted for a few days, the green candle line followed the battle indicated the downtrend of the currency price, so it was the time to go short, and finally I caught up with the waterfall market in just two days.
4. Short ETH — Making a Profit of 23,000 Yuan
As a person who likes bottom fishing, I had to go short in the recent bull market. The uptrend of various cryptocurrencies was driven by the rally, so I have been waiting for a pullback opportunity to enter the market, however, contrary to my expectation, the longs dominated and the market was overbought, I think I should go short between the swing. I entered the market at 180, and stopped loss and exited when the price reached around the Fibonacci line, then went long when the price was low. Though this was the first meticulous operation, the results are still quite satisfactory.
5. Short ETH — Making a Profit of 92,000 Yuan
ETH had a short fluctuation after a period of the uptrend, and the range did not exceed $30 in three days. Under the case, it is obvious that the market was choosing the direction, whether being the sideways trend before the decline or sluggish rise before downtrend. After broke through the resistance level, instead of moving upward, the market was blocked and started a narrow horizontal movement, therefore, I shorted and stopped profit at the last top support level.
Generally, contract traders pay attention to follow the trend, however, catch the opportunity of pullback involves both operating techniques and risks. The above-mentioned gainers are investors who can accurately grasp the time of entering and exiting the market, and none of them have been arbitraged. Congratulations on these shorts against the massive longs.