🔥 How do I spot a downtrend without indicators? (My method after 6 years)
90% of traders lose money because they see any high and call it resistance.
I use just one rule:
Strong resistance = a high that broke support, and that support had previously broken resistance.
High 1: Strong resistance because it broke support that had broken old resistance.
High 2: Also strong resistance, and it’s lower than High 1.
If you find two highs with these characteristics, and the second is lower than the first, that confirms a downtrend.
Where do I sell?
I don’t sell right at resistance. I wait for the price to return to it, switch to the 5-minute timeframe, look for the most recent minor low to break, then enter a short trade on the 15-minute timeframe.
This is what helped me become profitable after years of losses.
$BTC $BNB #Bitcoin #TechnicalAnalysis #SMC #BOS #Trading #BinanceSquare #CryptoTrading
90% of traders lose money because they see any high and call it resistance.
I use just one rule:
Strong resistance = a high that broke support, and that support had previously broken resistance.
High 1: Strong resistance because it broke support that had broken old resistance.
High 2: Also strong resistance, and it’s lower than High 1.
If you find two highs with these characteristics, and the second is lower than the first, that confirms a downtrend.
Where do I sell?
I don’t sell right at resistance. I wait for the price to return to it, switch to the 5-minute timeframe, look for the most recent minor low to break, then enter a short trade on the 15-minute timeframe.
This is what helped me become profitable after years of losses.
$BTC $BNB #Bitcoin #TechnicalAnalysis #SMC #BOS #Trading #BinanceSquare #CryptoTrading
