Copy Trading Master’s Winning Strategies Review — Episode 49
Easy Follow, Smart Trade! Discover the winning strategies of our popular traders.
- Copy Trading Master’s Introduction
User Nickname: @Onlooker
Trader’s Profile: https://www.lbank.com/copy-trading/lead-trader?id=LBA3D77490
Trading Style: Swing Trading
2. Trade Operation Recap
Long NEAR with 10x leverage, opening at 4.813 USDT, closing at 6.326 USDT, achieving a profit of +314.35%. As shown below:
3. Trade Review
3.1 Market Background
On July 3rd, the minutes from the June 12th Federal Open Market Committee (FOMC) meeting were released, indicating that Fed officials believed progress in reducing inflation this year had been slower than expected since December. They emphasized that rate cuts would be inappropriate unless they had more confidence that inflation could continue to fall to the Fed’s target.
On July 5th, data released by the U.S. Department of Labor showed that nonfarm payrolls increased by 206,000 in June, exceeding expectations of 190,000 but significantly lower than the previous figure of 272,000. Although the nonfarm payrolls for June exceeded Wall Street expectations, they were still significantly lower than in May, with the unemployment rate unexpectedly rising to its highest level in two and a half years, indicating a substantial cooling of the labor market.
On July 11th, the U.S. Department of Labor released data showing that the Consumer Price Index (CPI) rose by 3% year-over-year in June, slightly below the expected 3.1% and down from 3.3% previously. Month-over-month, the CPI fell by 0.1%, compared to the expected 0.1% increase and the previous value of 0%, marking the first negative reading since May 2020. Core CPI, excluding more volatile food and energy prices, rose by 3.3% year-over-year, below the expected and previous values of 3.4%, the lowest level since April 2021.
3.2 Trade Analysis
From July 5th to July 17th, Bitcoin’s 4-hour chart showed a strong rebound after low-level oscillations, as depicted below:
On July 3rd, the released minutes of the Fed’s June meeting showed that Fed officials discussed the outlook for monetary policy, pointing out that progress in reducing inflation this year had been slower than expected since December. They emphasized that rate cuts would be inappropriate unless they had more confidence that inflation could continue to fall to the Fed’s target. Renowned financial journalist Nick Timiraos titled his article “Fed Officials Signal No Rush to Cut Rates.”
On July 5th, data released by the U.S. Department of Labor showed that nonfarm payrolls increased by 206,000 in June, significantly down from the previous figure of 272,000. Although the increase exceeded Wall Street’s expectations, it marked a substantial decline from May, with the unemployment rate unexpectedly rising to its highest level in two and a half years, indicating a significant cooling in the labor market.
On July 11th, U.S. inflation data for June was released, showing that inflation was decreasing faster than expected. This suggested that the Fed might consider rate cuts in the near future.
On July 12th, altcoins followed Bitcoin’s rebound. On the 4-hour chart, NEAR’s price broke upward through a triangle formation, prompting opening position. Subsequently, NEAR’s price fell back from $5 to around $4.8, presenting an opportunity for a long position.
The cryptocurrency market then began a significant rally, and the position was held. As the price continued to rise beyond $5.6, there was resistance between $6.2 and $6.5. When NEAR’s price approached $6.5 and quickly pulled back, the position was closed, as shown below:
3.3 Winning Strategies Summary
Since July, the market has shifted from weak to strong, with the cryptocurrency market starting to rebound and experiencing a significant rally on July 13th. The downturn in June might have had adverse effects on trading operations.
Trading involves responding to the market and executing the trading plan with determination.
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