"In this article, I am going to share with you 2 of the greatest trading strategies.
PRICE ACTION STRATEGY
• Select a coin that you would like to trade (I recommend choosing the top-trending coin).
• Draw its resistance and support levels on a 4hour time frame. • Then, select RSI (14).
• Also, pay attention to the trading volume.
• Now, monitor the 4-hour time frame for potential breakouts or rejections.
• If a breakout occurs with a significant buying candle in terms of volume, and the RSI is below 75, your trade is ready with the target set at your next resistance level.
• If there is a rejection, switch to the 15-minute time frame and observe the volume candle. If it's significantly larger (2x or 3x) compared to other volume candles, set the highest point as your stop-loss (SL) and the next support level as your target.
As we can see, it may seem straightforward when reading all of this. Anyone can draw these resistance and support levels and use volume and RSI. However, trading involves more than just these technical aspects. First and foremost, you need to control yourself. Exchanges offer high leverage, and while some traders may showcase high profits with high leverage, there's a caveat. These traders are either extremely experienced in handling leverage or they are using small amounts with high leverage to demonstrate profit percentages, not the actual earnings from their trades. Therefore, it's essential to believe in yourself and learn the analytical aspects of trading rather than blindly following someone else. In my next post, I will share my next strategy, which is both simple and profitable.
THANK YOU FOR READING! #opbnb #ETH #BTC #crypto2023 #Layer2"
PRICE ACTION STRATEGY
• Select a coin that you would like to trade (I recommend choosing the top-trending coin).
• Draw its resistance and support levels on a 4hour time frame. • Then, select RSI (14).
• Also, pay attention to the trading volume.
• Now, monitor the 4-hour time frame for potential breakouts or rejections.
• If a breakout occurs with a significant buying candle in terms of volume, and the RSI is below 75, your trade is ready with the target set at your next resistance level.
• If there is a rejection, switch to the 15-minute time frame and observe the volume candle. If it's significantly larger (2x or 3x) compared to other volume candles, set the highest point as your stop-loss (SL) and the next support level as your target.
As we can see, it may seem straightforward when reading all of this. Anyone can draw these resistance and support levels and use volume and RSI. However, trading involves more than just these technical aspects. First and foremost, you need to control yourself. Exchanges offer high leverage, and while some traders may showcase high profits with high leverage, there's a caveat. These traders are either extremely experienced in handling leverage or they are using small amounts with high leverage to demonstrate profit percentages, not the actual earnings from their trades. Therefore, it's essential to believe in yourself and learn the analytical aspects of trading rather than blindly following someone else. In my next post, I will share my next strategy, which is both simple and profitable.
THANK YOU FOR READING! #opbnb #ETH #BTC #crypto2023 #Layer2"