Copy Trading Master’s Winning Strategies Review — Episode 41
Easy Follow, Smart Trade! Discover the winning strategies of our popular traders.
- Copy Trading Master’s Introduction
User Nickname: BlingBling~
Trader’s Profile: https://www.lbank.com/copy-trading/lead-trader?id=LBA3D77565
Trading Style: Swing Trading
2. Trade Operation Recap
Long MKRUSDT with 20x leverage on cross mode, opening at 2775.7 USDT, closing at 3039 USDT, achieving a profit of +189.57%. As shown below:
3. Trade Review
3.1 Market Background
On May 3rd, the U.S. Department of Labor reported that nonfarm payroll employment in April increased by 175,000, well below the anticipated 240,000, with March’s figures revised up from 303,000 to 315,000. This marked the largest miss from expectations since December 2021.
The U.S. unemployment rate in April was 3.9%, slightly above the expected 3.8% and steady from the previous 3.8%, marking its highest level since January 2022.
On May 8th, the U.S. House of Representatives passed a resolution to overturn the SEC’s announcement on cryptocurrency accounting standards, with a vote showing significant partisan division, 228–182. The White House preemptively declared it would veto the resolution if passed.
On May 10th, the U.S. Bureau of Labor Statistics reported that U.S. April CPI rose 4.9% year-on-year, marking the 10th consecutive monthly decline and the smallest increase since April 2021. This was slightly below the expected 5% and the previous value of 5%. The month-on-month CPI rose by 0.4%, in line with expectations and higher than the previous value of 0.1%.
Since early April, the release of strong U.S. employment and stubborn inflation data has led to a continuous decline in U.S. stock indices and a persistent pullback in the cryptocurrency market. Following the release of weaker-than-expected U.S. employment and core CPI data for April, the U.S. securities market saw successive rallies, with the cryptocurrency market experiencing a significant reversal.
3.2 Trade Analysis
From April 7th to May 22nd, Bitcoin’s daily chart depicted a high-price decline along the trend line, followed by a foundational rebound, as shown below:
On May 3rd, the release of U.S. April Nonfarm Payrolls data showing an increase of 175,000, below the expected 240,000, led to a significant rise in the U.S. market, which also boosted the cryptocurrency market. This was followed by a period of consolidation.
On May 10th, data from the U.S. Bureau of Labor Statistics indicated a lower-than-expected rise in April’s CPI, with core CPI slowing, leading traders to further reduce bets on a rate hike in June. Following this, the cryptocurrency market began an overall oscillating uptrend.
On the daily chart, MKR had been oscillating downward from a high of $4000 in March to a low of $2400. Around May 14th, MKR broke the upper edge of a triangular formation, piercing the downward trend line. See image below:
On the 4-hour chart, MKR oscillated between 2670 and 2850 USD. On May 18th, the price pulled back from 2860 USD to a low of 2730 USD. After forming a long lower shadow candlestick, the price stabilized, and a long position was opened. MKR then began to rise rapidly. Subsequently, ETH also surged, the cryptocurrency market became very active. On May 22nd, in a short-term cycle, MKR formed an “M” top at 3150 USD, then broke the neckline at 3100 USD. As BTC also retraced from its high, the MKR position was closed around 3050 USD. As shown below:
3.3 Winning Strategies Summary
A humorous aspect of the financial markets is that every buyer and seller believes they are smarter than their counterpart. However, successful investors are always those who patiently wait for the right opportunities to emerge.
Experience shows that the market speaks for itself, and the market is always right.
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