When strategies stop working…
Today I was a little more stringent with my TJ setups and cross referenced with Support and Resistance levels. There was only really one signal today, AUDUSD which unfortunately triggered and stopped out again.
Market climates change and this is all part of the learning process…
The remaining RP’s that were open also closed out, all in profit except USDNOK, which closed for a small loss.
I’m also keeping an eye on consolidation wedges on daily and 4 hourly charts. Keeping a close eye on indices right now, with the SPX leading the herd.
On the Crypto side…
BTC’s rise again has started to tail off as the market cap falls back below $350b.
This may bring further downside to BTC and the crypto market as a whole so I’ll be holding my funds aside in Euro’s for a little longer, except to get in on BNB ready for the coin burn which will be sometime in March. I’ll buy back into BNB tomorrow.
What’s a coin burn? Basically, Binance will be reducing the number of coins in circulation by “burning” excess coins (much like burning money, it will never be retrievable) thus adding extra value to the coins left in existence.
Current price is about $9 and expected price after burn is estimated $50 (price spike) so that should be a great return if I can pull it off.
I’ll keep you posted!
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