Copy Trading Master’s Winning Strategies Review — Episode 44
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
Short RNDR with 10x leverage on cross mode, opening at 10.4053 USDT, closing at 9.1696 USDT, achieving a profit of +118.75%. As shown below:
3. Trade Review
3.1 Market Background
On May 24th, the U.S. Securities and Exchange Commission (SEC) approved several 19b-4 filings for Ethereum spot ETFs, including those from BlackRock, Fidelity, and Grayscale. Although the forms were approved, ETF issuers must have their S-1 registration statements become effective before they can start trading. The SEC has just begun discussions with issuers regarding the S-1 forms.
On May 30th, revised data from the U.S. Department of Commerce showed that the U.S. Q1 real GDP growth was adjusted to an annualized rate of 1.3% from the preliminary 1.6%, significantly slower than the previous quarter’s 3.4%.
This major revision in both GDP and PCE growth rates led to concerns about a U.S. economic slowdown.
On June 6th, the European Central Bank announced a rate cut of 25 basis points, its first since 2019, making it the second G7 central bank to cut rates following the Bank of Canada.
On June 7th, the U.S. reported an increase of 272,000 non-farm payrolls for May, exceeding expectations by 92,000. Average hourly earnings grew 4.1% year-over-year, faster than the expected 3.9%, with a month-over-month increase of 0.4%. However, the unemployment rate unexpectedly rose to 4.0%, the highest in over two years.
3.2 Trade Analysis
From June 1st to June 11th, the Bitcoin hourly chart showed high-level oscillations followed by a sharp drop and then a flat period before another rapid decline. See image below:
On May 30th, revised data from the U.S. Department of Commerce showed that the U.S. Q1 real GDP growth was adjusted to an annualized rate of 1.3% from the preliminary 1.6%, significantly slower than the previous quarter’s 3.4%. This major revision in both GDP and PCE growth rates led to concerns about a U.S. economic slowdown.
On June 7th, the U.S. reported an increase of 272,000 non-farm payrolls for May, exceeding expectations by 92,000. However, the unemployment rate unexpectedly rose to 4.0%, the highest in over two years.
The better-than-expected non-farm payroll data led to a sharp drop in the cryptocurrency market.
On June 7th, during the Asian trading session, a head and shoulders pattern appeared on the hourly chart of RNDR. This prompted the initiation of a short position. Following the release of the U.S. May employment data during the U.S. stock market session, the cryptocurrency market plummeted, with RNDR quickly dropping to around $8.30. The market then began to oscillate and drift lower. On June 10th, as RNDR showed signs of stabilization and with the upcoming release of the U.S. May CPI data on June 12th expected to increase market uncertainty, the short position was closed early. See image below:
3.3 Winning Strategies Summary
Capital markets tend to engage in anticipatory trading around the release of U.S. macroeconomic data. When expectations are met, trades are concluded as the data aligns with forecasts; if the data exceeds expectations, it can lead to significant market volatility, and anticipatory trading can exacerbate this effect.
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