Don't Let Hope Get the Best of You
Updated
Above I have listed the multiple stages of a trade.
A lot of the time it starts with a great buy, which leads to a logical selling point.
Rarely do people go through with this.
Why? because humans are full of emotion, which a lot of the time will get the best of us.
Even though that sell order should be placed, GREED takes over. We hold on just a while longer wanting to make that extra buck.
Then the worst happens, the chart reverses. We then hit the DENIAL stage, where we refuse to believe this is happening, we think that Technical Analysis has failed us and the price will somehow come back.
Eventually we hit a bit of support! This is the HOPE stage, where we hope that somehow the price will rise high enough just for us to break even.
This all eventually leads to the final stage of REGRET. Also known of the land of no recovery.
Do not let emotions get the best of you. Emotions are never a reliable way to predict price movements.
Emotion is something that we all must overcome, if we wish to succeed in the trading industry.
Above, REGRET sets at $4150.
This could be an excellent short opportunity for BTC.
After just about hitting a triple-top, the BTC rise was rejected, which was immediately followed by a break in the most recent trendline.
IF hope prevails we will likely retest the previous high.
IF hope fails we will likely hit our REGRET target of $4150 which rests on a previous trendline.
Always know that shorting in a BULL market is risky. I advise using caution.
If you are not a margin trader, $4100-$200 could be an excellent buy for you.
Wish you all luck!
A lot of the time it starts with a great buy, which leads to a logical selling point.
Rarely do people go through with this.
Why? because humans are full of emotion, which a lot of the time will get the best of us.
Even though that sell order should be placed, GREED takes over. We hold on just a while longer wanting to make that extra buck.
Then the worst happens, the chart reverses. We then hit the DENIAL stage, where we refuse to believe this is happening, we think that Technical Analysis has failed us and the price will somehow come back.
Eventually we hit a bit of support! This is the HOPE stage, where we hope that somehow the price will rise high enough just for us to break even.
This all eventually leads to the final stage of REGRET. Also known of the land of no recovery.
Do not let emotions get the best of you. Emotions are never a reliable way to predict price movements.
Emotion is something that we all must overcome, if we wish to succeed in the trading industry.
Above, REGRET sets at $4150.
This could be an excellent short opportunity for BTC.
After just about hitting a triple-top, the BTC rise was rejected, which was immediately followed by a break in the most recent trendline.
IF hope prevails we will likely retest the previous high.
IF hope fails we will likely hit our REGRET target of $4150 which rests on a previous trendline.
Always know that shorting in a BULL market is risky. I advise using caution.
If you are not a margin trader, $4100-$200 could be an excellent buy for you.
Wish you all luck!
Trade closed: target reached
Regret.
Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
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