Using Support & Resistance - BTC Trades I've Entered in 2022
Hello Traders
Here is a visual representation of the Bitcoin trades I've entered in 2022. As you can see I primarily swing trade using Key support and resistance levels.
Trading successfully is about entering trades that have the highest probability of playing out in the direction you intend to trade.
- Trades that typically have the highest probabilities are ones that are entered in key S/R levels and or when a mature pattern is formed.
- For many of the trades I entered on the Key levels the probability of them getting a bounce was near 80% making it a high probability trade.
- The key is to let the chart show you when it is time to enter a position.
- As you can see I don't enter trades often but when I do they are high probability with maximum % gain potential.
- On a side note in addition to BTC I trade Alts when they come into key levels in conjunction with BTC.
- Patience is the name of the game with trading.
- If you are a beginner the easiest trading method is the one shown here. Draw major / minor S/R levels on your chart where BTC has either bounced or been rejected and wait for those levels to be hit to enter a trade.
Last note... I'm describing my trading method in its most basic form. There are obviously many other factors that I take into account before entering a trade. I don't just automatically enter every time a key level is hit. Other factors include news, how many times a level is hit, direction momentum, time counts, patterns, prolonged consolidation, trader sentiment, etc. If you are a beginner this is a great way to trade but please understand to time the market correctly you have to have a vast knowledge of trading. The reason I am saying this is for you to understand how important it is to constantly be education yourself on trading. The more you learn the higher your win % will be.
Happy Trading and good luck!
Here is a visual representation of the Bitcoin trades I've entered in 2022. As you can see I primarily swing trade using Key support and resistance levels.
Trading successfully is about entering trades that have the highest probability of playing out in the direction you intend to trade.
- Trades that typically have the highest probabilities are ones that are entered in key S/R levels and or when a mature pattern is formed.
- For many of the trades I entered on the Key levels the probability of them getting a bounce was near 80% making it a high probability trade.
- The key is to let the chart show you when it is time to enter a position.
- As you can see I don't enter trades often but when I do they are high probability with maximum % gain potential.
- On a side note in addition to BTC I trade Alts when they come into key levels in conjunction with BTC.
- Patience is the name of the game with trading.
- If you are a beginner the easiest trading method is the one shown here. Draw major / minor S/R levels on your chart where BTC has either bounced or been rejected and wait for those levels to be hit to enter a trade.
Last note... I'm describing my trading method in its most basic form. There are obviously many other factors that I take into account before entering a trade. I don't just automatically enter every time a key level is hit. Other factors include news, how many times a level is hit, direction momentum, time counts, patterns, prolonged consolidation, trader sentiment, etc. If you are a beginner this is a great way to trade but please understand to time the market correctly you have to have a vast knowledge of trading. The reason I am saying this is for you to understand how important it is to constantly be education yourself on trading. The more you learn the higher your win % will be.
Happy Trading and good luck!