there's a major debate on the tl about trading and prediction market
These are two distinct things
when trading, i don't attempt to predict the outcome - i simply react to the market
You don't need to predict where a coin is going to, uou need to know what you'll do when it gets there.
Before every trade, ask yourself 3 questions:
1. What confirms my setup? (POIs/confirmations)
2. What invalidates my thesis?
3. What will I do if price does the opposite? (knowing when and where to cut losses)
If you only have an answer to #1, you're not trading a plan.
You're trading a prediction.
The best traders aren't right every time, but they have plans when they fail.
One of the basic things you should understand in Technical Analysis:
Support & Resistance.
Think of support as the floor.
Possible lowest area price drops to โ buyers step in โ price reacts.
Resistance is the ceiling.
Price pushes into that area โ sellers step in โ price gets rejected.
Simple enough.
But the part most people miss is that these aren't always exact prices.
They're zones.
And the more times price reacts from a zone, the more attention you should pay to it.
these are key areas on the chart that you should learn to spot
GM CXNG
CPI drops tomorrow. Here is the Market update for the week.
What it covers:
โ Why this print matters more than the last one, and what the market is already pricing in
โ The levels on bitcoin:native that decide whether we continue or reverse post-release
โ XAU/USD and how the dollar reaction plays out either way
โ How I'm positioned going in, and what would make me change my mind
Feel free to ask questions in the comment section and have an amazing trading week.