SpiderCrypto Trading Journal
Open in Telegram
Turned $2k to $10m. Be a spider and know when you catch crypto gold on your web.
Show more3 764
Subscribers
No data24 hours
No data7 days
No data30 days
Posts Archive
Tomorrow is a big day.
Non Farm Employment tomorrow - 0830ET
NFP is the metric to gauge the labour market strength
Expecting 200,000
Last was 261,000
Unemployment
Expected 3.7%
Last 3.7%
--
As a note: NFP rapid growth is often a precursor to inflation increases
- so: if we jump to 300,000 and things are at resistance - short +++
- if we are <200,000 - likely see a god candle and then settle. things looking to pop (SUSHI, JASMY, LINK) might get a big push.
We are leaning more towards the short IMO as I think unemployment has gone up.
Just being transparent, this is my trading journal and I’m learning how to trade all over again.
My real skill is picking alts and early investments. However this requires time I don’t got. I am by no means an expert and will never try to lie that I am.
I’m adding to my shorts here 17200 was a point of resistance and high 1200s / lower 1300s. Lots of people are flipping long right now and funding is starting to go even. Time for bears
Missed so many great trading opps but starting to realize following the trend of traders is where the market is at. When the biggest traders on ct are preaching go long, it’s never failed me yet I faded it this time
I need more examples to draw a succint conclusion but will take time to study. I'll likely take some more short scalps on $eth as I'm trying to learn how to trade shorts in this market more than build a skill on longing. I've never been good at when to sell so getting the skill is everything right now to me.
"Most of the market is being driven mostly speculative demand (perps) not real demand (spot) that's driving ETH strength. Weak pillars fall fast."
@ouroboroscap8
Speculative demand is powerful though as leverage traders make up way more volume and size than retail. One speculative trader (w/ 100k) can = 100 spot retail traders. Imo it's better to side w/ speculative traders as they move the market way more than spot.
