Topic: How to read trading charts? - page 6. (Read 1605 times)
Watch as many free youtube videos about how to read trading charts, get onto Twitter and follow some traders that like to chart, read some articles, etc
It's quite simple. The first thing is that you need to look at the large time frame then you will look at the charts with small time frame. Normally, you should look at the chart 1 week ago, then you can easily identify the trend of the coin you are wondering. After that, you will find good points to open order. 1D and 4H time frames are beautiful time frames for you to make open orders. Those are the most basic things that you should know when looking at a chart.
I hope its as simple as what you said. Reading charts is not like pulling up a photo from your wallet and ask how many people do you see? How many people do you see wearing a coat? You will find it odd that we may be looking at the same chart but we have a different interpretation. Using tools like Bollinger Bands, RSI and Parabolic SAR will help you in reading charts.
basically charts are market data from traders, in this life everything usually has a pattern that is repeated, Likewise with trading charts, because trading is influenced by human psychology, I will give an example, someone usually has almost the same daily activities, wake up, have breakfast, go to work, go home, sleep, weekend rest, that person will do the activity repeatedly so that I can guess what he will do, the same is true of trade, if you look at the trade chart it has a pattern that repeats itself, your job is to understand or learn those patterns, maybe you can use indicators to make it easier to understand the pattern.
How do you read charts because i am still exploring and i don't know how read a charts anybody can help me with this? What is the best way to learn reading charts in an easiest way.
You need to experiment with different ways of charting to see what works for you, visually. This distinction between line charts, bar charts, and candlestick charts is an important starting point:
Candlesticks are one of the primary components of my analysis. This is a good tutorial that covers pattern recognition and support/resistance as they relate to candlesticks: Understanding Basic Candlestick Charts
I recommend keeping things very simple to start. Begin with a basic candlestick (or bar) chart, volume, a moving average like the 20-MA, and a momentum oscillator like RSI. Some additional tutorials for those:
How to Use Volume to Improve Your Trading
How to Use Moving Averages to Find the Trend
How to Use RSI (Relative Strength Index)
Divergence Cheat Sheet (for trading divergences on oscillators like RSI)
at first it was difficult but all can be adjusted, after you understand the basic indicators such as rsi and macd, then match your strategy with the adjusted tf, then any chart movement will be easy to understand, you can do it through tradingview, or advanced charts on your exchange trading, if you are familiar, then you can easily learn the other indicators.
Have a nice day! I know that most of here are all traders if you don't mind can i ask a little questions here because i am curious about trading. How did you do that? How do you read charts because i am still exploring and i don't know how read a charts anybody can help me with this? What is the best way to learn reading charts in an easiest way.
You are still in the early stage of doing trades and currently gaining basic knowledge that's why you are curious. It's usual and common.
However, reading the crypto chart is not as simple as someone will say "this line meant.. this line goes... this line should..., etc. Maximize your studies by referring to various sources around about trading. There are lots honestly in the form of articles and videos, whatever you preferred. No one here will take you in 1 on 1 whole course study about it.
And to your last question, obviously, I must say changed your thinking about the "easy way" as to how easy reading charts will depend on how far you understand it. Even someone or somewhere, they make the explanation simple as they can, it doesn't mean you will catch that easily. Don't rush and just continue your progress. Soon that question will be answered by yourself.
Link 1
Link II
Link III
Link IV
it is very dificult to make pridiction of prices in crypto because every year prices give new chart ( year 1 prices up ) ( year 2 prices down ) or (year 1 up ) ( year 2 up ).......
the good strategie is hold for long term . for example prices of bitcoin now very cheap because halving comming and each halving prices rose a lot
the good strategie is hold for long term . for example prices of bitcoin now very cheap because halving comming and each halving prices rose a lot
Trust me no one is perfect here. Specially in the market like cryptocurrency where manipulation and volatility is way too high, technicals can deceiving. The more important thing than technicals is your stop loss. Stop loss is really critical to crypto trading. For getting hang of technical analysis in crypto keep on doing hit and trial. You will learn better that way instead of following some tutorial. Remember to try only with small amounts or you can also go for paper trading.
In every type of market there are powerful persons and organization that can manipulate the price. In stock market there are jockeys who have power to pump and dump a specific stocks while in cryptocurrency market, there are whales who have huge amount of bitcoin that can easily influence its movement. Manipulation is everywhere we cannot do about it and for me it is now normal.
Price manipulation act is played in every investment atmosphere but i dont beliefe theres nothing we can do about it because we can completely seize the opportunity that comes with it somewhat than preoccupation with it negative impact on the market.Yeah because it's decentralized the the price was so cheap before, people who already bought bitcoins when the price was so cheap must be owned so many cryptocurrency assets right now and they could pump and dump a coin easily, so price manipulated was not a secret again right now
Reading is not that easy to do when we all know that bitcoin is very volatile compared to other alt coins. You should trade depending on the chart because it will serves us your guide when and how much you'll trade. Analyzing charts can give you hint or knowledge so that when you trade, you prevent losses and you can manipulate your money. Planning is also important in trading, technical analysis and good decision making will also help you to a successful trading.
If you want to read trading charts, study the basic parts of the candlestick first. Learn how to identify the open and closing price of a coin. After you learn the basic parts of the candlestick, you should learn the basic patterns of a bullish and bearish movement so you can have an idea on what are the possible outcomes. You should do it, step by step and always take your time.
I agree, there are too many videos and blog that study on the reading chart you can simply google it and you will find the right answer. Reading trading charts is very important because in this way you can able to have fundamental and technical analysis on your own without relying upon other's work. E-toro exchange platform allows newbies to copy/paste the work of expert traders maybe this will help you to start with. But to start the amount that you can afford to lose.
If you want to read trading charts, study the basic parts of the candlestick first. Learn how to identify the open and closing price of a coin. After you learn the basic parts of the candlestick, you should learn the basic patterns of a bullish and bearish movement so you can have an idea on what are the possible outcomes. You should do it, step by step and always take your time.
In every type of market there are powerful persons and organization that can manipulate the price. In stock market there are jockeys who have power to pump and dump a specific stocks while in cryptocurrency market, there are whales who have huge amount of bitcoin that can easily influence its movement. Manipulation is everywhere we cannot do about it and for me it is now normal.
Price manipulation act is played in every investment atmosphere but i dont beliefe theres nothing we can do about it because we can completely seize the opportunity that comes with it somewhat than preoccupation with it negative impact on the market.Yeah because it's decentralized the the price was so cheap before, people who already bought bitcoins when the price was so cheap must be owned so many cryptocurrency assets right now and they could pump and dump a coin easily, so price manipulated was not a secret again right now
In every type of market there are powerful persons and organization that can manipulate the price. In stock market there are jockeys who have power to pump and dump a specific stocks while in cryptocurrency market, there are whales who have huge amount of bitcoin that can easily influence its movement. Manipulation is everywhere we cannot do about it and for me it is now normal.
Price manipulation act is played in every investment atmosphere but i dont beliefe theres nothing we can do about it because we can completely seize the opportunity that comes with it somewhat than preoccupation with it negative impact on the market.Yeah because it's decentralized the the price was so cheap before, people who already bought bitcoins when the price was so cheap must be owned so many cryptocurrency assets right now and they could pump and dump a coin easily, so price manipulated was not a secret again right now
If you're new to crypto i would highly suggest to check Newscrypto.io School program. It guides you step by step, reading charts, chart patterns etc. All in one place.
In every type of market there are powerful persons and organization that can manipulate the price. In stock market there are jockeys who have power to pump and dump a specific stocks while in cryptocurrency market, there are whales who have huge amount of bitcoin that can easily influence its movement. Manipulation is everywhere we cannot do about it and for me it is now normal.
Price manipulation act is played in every investment atmosphere but i dont beliefe theres nothing we can do about it because we can completely seize the opportunity that comes with it somewhat than preoccupation with it negative impact on the market.
There are a variety of charts that are made in the scene and reading them may take different point of views, so there isn't really only a single way of reading them, just like how there isn't a single way of creating them. Take your time, and just watch youtube videos about analysis and try and take it into your hands HOW they came up with the said analysis. Don't worry about making a mistake, and even if you do, don't ever be afraid of being corrected. Experience is your friend when studying and analyzing charts. You can try and look up about Line charts first and foremost, and proceed to other types once you think that you're done studying them.
You should probably start by identifying WHAT makes up a chart. What are the characteristics of the X and Y axis in the graphs, what does a rise and fall indicate. There are also a bit of factors involved in reading charts, depending on how the analyst made the analysis. A sample is a TA based on the Fibonacci chart of the 10 years of BTC. You can start off simple with reading highs and lows of a chart and something similar. Just google them up tbh.
Here are some I found:
https://www.tradingacademy.com/financial-education-center/common-charting-periods.aspx
https://www.babypips.com/learn/forex/types-of-charts
Here are some I found:
https://www.tradingacademy.com/financial-education-center/common-charting-periods.aspx
https://www.babypips.com/learn/forex/types-of-charts
Have a nice day! I know that most of here are all traders if you don't mind can i ask a little questions here because i am curious about trading. How did you do that? How do you read charts because i am still exploring and i don't know how read a charts anybody can help me with this? What is the best way to learn reading charts in an easiest way.
Better still you can start with the basic and elementary features of charting techniques by visiting babypips.com where you would find some vital information relating to charts in addition to youtube videos. More so learn some candlesticks patterns which would aid your trading journey though it might be tough initially however with time you would it would be very easy.Have a nice day! I know that most of here are all traders if you don't mind can i ask a little questions here because i am curious about trading. How did you do that? How do you read charts because i am still exploring and i don't know how read a charts anybody can help me with this? What is the best way to learn reading charts in an easiest way.
you can try learning at here
https://www.newsbtc.com/category/analysis/
you will find very usefull article, i cant say all article listed will be 100% correct in analysis
but you can learning how to read charts, ofcouse by implementation in yourtrading sistem
Start by learning one simple indicator like RSI and once you knew how this indicator give you signals, then learn another indicator that will support the signal of the RSI like the Stoch RSI or the MACD. There are actually trading trading systems that you can follow such as the crossing of the moving averages.
I find this thread valuable of information. https://bitcointalksearch.org/topic/indicatorvip-smart-binance-indicators-5212144
His website provide a trading system you can follow, you don't have to buy his indicators, here is the link http://indicator.vip/
Jump to: