Pretty self explanatory...if you are not using at least these 3 indicators....you're screwed.
Comment:
An educational picture to show you the 3 indicators you should always use prior to entering or exiting the market, just some basics to reduce the noise in the volatile market and increase your percentage of success.
1. RSI: Lets you know oversold or overbought conditions.
2. Stoch RSI: Shows momentum changing.
3. MACD: Shows the divergence and rising or falling average.
Never hurts to look at the 50, 100, and 200 exponential moving averages (EMA) and check the Bollinger Bands (BB) to ensure volatility has returned to normal prior to entering. The reverse would be true when exiting...you would want to see the candlesticks at the upper edge of the BB with high volatility so you could exit before it consolidates.
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1. RSI: Lets you know oversold or overbought conditions.
2. Stoch RSI: Shows momentum changing.
3. MACD: Shows the divergence and rising or falling average.
Never hurts to look at the 50, 100, and 200 exponential moving averages (EMA) and check the Bollinger Bands (BB) to ensure volatility has returned to normal prior to entering. The reverse would be true when exiting...you would want to see the candlesticks at the upper edge of the BB with high volatility so you could exit before it consolidates.