Read on Twitter
I promise this is the only forex tip, lets get it out of the way.
Now that we& #39;re done with Forex, let& #39;s take a look at crypto -- where fundamentals don& #39;t matter too often.
It& #39;s important to determinate the trend. If you dont know how, then the 200 EMA can help you with this.
It& #39;s important to determinate the trend. If you dont know how, then the 200 EMA can help you with this.
3 SIGNS OF CONFIRMATION THAT YOUR TRADE IS SET:
1. Price Action
- Look for a long bodied candle on the 15m chart
2. Momentum Indicator
- Momentum oscillators like the MACD/RSI can confirm a reversal
3. Divergence
- When indicator and price are telling you something different
1. Price Action
- Look for a long bodied candle on the 15m chart
2. Momentum Indicator
- Momentum oscillators like the MACD/RSI can confirm a reversal
3. Divergence
- When indicator and price are telling you something different
We can& #39;t go into day trading without mentioning bollinger bands. The principles of BBs are very simple:
- Price trading above red line = bullish
- Price trading below red line = bearish
- Price escaping either side of the bands suggest an incoming reversal
Example:
- Price trading above red line = bullish
- Price trading below red line = bearish
- Price escaping either side of the bands suggest an incoming reversal
Example:
Bollinger Bands aren& #39;t perfect alone, that& #39;s why we& #39;re moving onto a very underrated indicator -- Stochastic RSI.
It& #39;s simple,
- Blue line over orange, bullish
- Orange line over blue, bearish
- Lines below 20 = Oversold
- Over 80 = Overbought
If you& #39;re confused, see this:
It& #39;s simple,
- Blue line over orange, bullish
- Orange line over blue, bearish
- Lines below 20 = Oversold
- Over 80 = Overbought
If you& #39;re confused, see this:
Lastly, find a trading style that suites your LIFESTYLE.
Day Trading
- Multiple trades
- Less %
- Monitoring
- Smaller window
- "In and out"
Swing Trading
- Less trades
- More %
- Set and go
- Entry time varies
- Holding trades
Day Trading
- Multiple trades
- Less %
- Monitoring
- Smaller window
- "In and out"
Swing Trading
- Less trades
- More %
- Set and go
- Entry time varies
- Holding trades
Using all the above -- and even throwing in something like pivot points -- will guarantee a solid foundation to start day trading.
If you have any questions feel free to ask!
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🚀" title="Rocket" aria-label="Emoji: Rocket">
If you have any questions feel free to ask!
