Hello Guys.
For the new traders here. I just wanted to show you how to trade a breakout of a line.
This is a real example of a trade i entered minutes ago. ( BCC/USDT)
As you can see, the blue line shows the downtrend of the price. When the price break this line is a good signal to buy, expecting the price to go even higher after breaking the resistance line.
Things to consider:
1) Remember nobody knows the future and the market is unpredictable.
2) Price can break the line and after that go back and break it again. ( going against you). Thats why is very important to set up your STOP LOSS below the previous Lowest price so you can protect yourself form losses.
The BIGGEST difference between traders than win or lose money in the long term is that winners comprehend the important of money management. Never risk more than 5% of your account per trade!
If you like this analysis and profit with it don't hesitate about following me and thumbs up this chart.
Good luck!
For the new traders here. I just wanted to show you how to trade a breakout of a line.
This is a real example of a trade i entered minutes ago. ( BCC/USDT)
As you can see, the blue line shows the downtrend of the price. When the price break this line is a good signal to buy, expecting the price to go even higher after breaking the resistance line.
Things to consider:
1) Remember nobody knows the future and the market is unpredictable.
2) Price can break the line and after that go back and break it again. ( going against you). Thats why is very important to set up your STOP LOSS below the previous Lowest price so you can protect yourself form losses.
The BIGGEST difference between traders than win or lose money in the long term is that winners comprehend the important of money management. Never risk more than 5% of your account per trade!
If you like this analysis and profit with it don't hesitate about following me and thumbs up this chart.
Good luck!
