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Trader Eugene: Closed Most Long Positions, Locking in Profits for Next Opportunity
Summary: In a recent update, trader Eugene Ng Ah Sio announced on his personal channel that he has exited most of his long positions. Ethereum rose from $2500 to $3800, achieving the best outcome he could have asked for in just two weeks. Eugene believes the easy part of this trade is done, and further holding ...
In a recent update, trader Eugene Ng Ah Sio announced on his personal channel that he has exited most of his long positions. Ethereum rose from $2500 to $3800, achieving the best outcome he could have asked for in just two weeks.
Eugene believes the easy part of this trade is done, and further holding would require more psychological resilience for breaking through historical highs. He prefers leaving momentum trading to those more skilled in it. With regards to position, the market has shifted from underweight to overweight, with institutional buyers significantly increasing their positions in the past few days.
ETHBTC has also reached Eugene's mid-term target of 0.03, indicating the trade logic has been nearly perfectly executed. He has chosen to lock in profits and prepare for the next opportunity.
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Link: Trader Eugene: Closed Most Long Positions, Locking in Profits for Next Opportunity [Copy]
