Deep analysis of the past. I have missed good entries because I have not checked ETH for a long time. Actually, I have not traded on the low time frame for a while, but it is time to return and synchronise myself with the market.
I always use two types of charts simultaneously: Japanese Candlesticks and Lines.
I think that a line chart shows you the truth and the accurate past price.
1) The price is under 100 EMA and MA, and that means we are in the downtrend on ETH - rule number one Do Not Trade Against Trend.
2) Between EMA and MA, we have a nice area of opportunities for the opening position.
3) The red line is a strong resistance level - rule number two Support and Resistance levels are your best friend.
p.s. The more times a price touches those levels, the more value they have.
4) RSI and MACD indicators show classic divergency - rule number three Indicators are the tools that help to measure the market's pulse, temperature, blood pressure, etc., like in the living organism.
5) EFI and Elder Impulse show where the price acceleration loses strength.
6) Bollinger Bands shows where price could change or continue its direction - only take signals in the order of the overall trend.
7) Candlestick wick is the battlefield between bulls and bears. It is not just a signal of rejection; it can actually foreshadow a breakout, too - rule number four Analyse wicks on the lower time frames to get more information.
Always Do your own research
May the profit be with you!
I always use two types of charts simultaneously: Japanese Candlesticks and Lines.
I think that a line chart shows you the truth and the accurate past price.
1) The price is under 100 EMA and MA, and that means we are in the downtrend on ETH - rule number one Do Not Trade Against Trend.
2) Between EMA and MA, we have a nice area of opportunities for the opening position.
3) The red line is a strong resistance level - rule number two Support and Resistance levels are your best friend.
p.s. The more times a price touches those levels, the more value they have.
4) RSI and MACD indicators show classic divergency - rule number three Indicators are the tools that help to measure the market's pulse, temperature, blood pressure, etc., like in the living organism.
5) EFI and Elder Impulse show where the price acceleration loses strength.
6) Bollinger Bands shows where price could change or continue its direction - only take signals in the order of the overall trend.
7) Candlestick wick is the battlefield between bulls and bears. It is not just a signal of rejection; it can actually foreshadow a breakout, too - rule number four Analyse wicks on the lower time frames to get more information.
Always Do your own research
May the profit be with you!