Thread by @KingPivots, I promise this is the only forex tip, lets get it out [...]

KingPivots

I promise this is the only forex tip, lets get it out of the way.

Now that we're done with Forex, let's take a look at crypto -- where fundamentals don't matter too often.

It'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

We can'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:

Bollinger Bands aren't perfect alone, that's why we're moving onto a very underrated indicator -- Stochastic RSI.

It's simple,
- Blue line over orange, bullish
- Orange line over blue, bearish
- Lines below 20 = Oversold
- Over 80 = Overbought

If you'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

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!

You can follow @KingPivots.

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