Magus: How I’m trading FOMC

Wednesday we have the FOMC, which will likely give us some volatility to trade.

The macro trend is up, and I’m bullish, so if I see a classic selloff from derisking going into Wed I’m going to send it. I don’t care about the actual FOMC numbers.

I’ll be looking for the classic flow signs of absorption, exhaustion, and hopefully, a selling climax spike to buy into.

Doc: BTC plans

Plans going into this week were simple:

1. Swing long near range lows

2. Long a shallow retrace after strong breakout above 120k

3. Take intraday trades if they present themselves in between

This is the most confident I’ve been in this range that price wants to go higher: we’ve had value buildup, alts run, alts correct, and BTC fail to breakdown in face of billions being sold.

I’m looking to add more to BTC longs if price runs Monday’s lows (confluent with anchored VWAP from recent swing low).

Charlie: Slow altcoin rotations

The market it not risk-on enough to support strong rotations on alts right now.

You can see this on the Spaghetti chart above: alts are moving slowly, few are outperforming BTC (orange) on bounces, and the ones that do aren’t by a lot.

That said, I was able to catch PUMP this morning after seeing it outperform on Spaghetti (see vertical pink line below).

WoW on one screen, Spaghetti on another until further notice.

Stoic: How I used profiles and VWAPs to long the bottom

Mercury: Comparison is the thief of joy

We often compare ourselves to others under the guise of motivation, but comparison more often becomes a tool for perpetual dissatisfaction, no matter how blessed our situation.

Bull markets exacerbate this. Our telegram group chats with friends get lively again and PnL flexes flood our Twitter feeds.

In times like these it's much better to appreciate what we have and focus on what we can improve in ourselves.

You will always miss more than what you catch. This along with the comparison mindset amplifies our greed and leads to the mistake in bull markets.

I've talked to thousands of traders over the years and have never heard anyone say “I didn't make enough” in a bull market.

Instead, they always say, “I didn't keep enough of what I made.”