I will not say that those days are gone, they will happen again in future but massive changes are not happening commonly or at present times even with political tensions between countries and elections upcoming.
News can be real or fake, FUD but we as traders in the market, not as market makers, can not control news. What we can do is with our trading positions and trading capital. We are free to open or close our trading positions and this practice can help us defending our trading capital or destroying it.
Flippers are looking for such quicks gains but holders are not. So you have to decide what position you want to take - both are profitable at specified durations of holding but the frustration that comes with not being able to flip is much higher than holding.
Trading does not mean holding positions for too long, because market can suddenly move up or down dramatically that can cause either Short squeeze or Long squeeze and it's not too rarely with both Long and Short squeezes occur within few minutes.
Either way prices are staying at stagnancy hence it is better to wait it out than open a new position.
With uncertainty on what's next, it's safest to close all current positions and do like your advice, wait for chances to open new positions. With traders, nothing is more important than protecting their trading capital and closing all current existing open positions is a good practice for capital protection.
One of best weapons in trading. Use stop loss order is good but if traders are in time of very high uncertainty, it's safer to close all positions than using a stop loss order, that can fail practically too.
