TRADING TIP BIT1
To Filipinos here who's really interested especially for newbies.
(I wont post link here. This is based on what i've learned so far, Relay para sa mga baguhan sa cryptoverse)
CHART PATTERNS
1.SUPPORT and RESISTANCE
Kalimitan nangyayari dahil sa common crowd psychology na "BUY LOW, SELL HIGH"
A. RESISTANCE happens when the price hits a historically high level (sa tingin ng karamihang speculators) then they will be urged to sell their position (Position.. if you are lazy to look it up.. un ung nakukuha mo kapag nag buy or sell ka. LONG POSITION kung buying in hope na tataas ung value ng binili mo, SHORT POSITION kung selling ka na at hanggang dun nalang kaya nga short eh :<). After nun, the price tend to fall.
B. SUPPORT happens when the price hits historically low (opposite lang)... then the crowd maybe urged to "BUY! BUY! BUY!" a position.
Then the price tend to rise
(NOTE: B4 ka magtrade, wait at least 3 price reversals and use your judgement to determine the reliability of support and resistance. welp it is up to you mate.
2. PIN BAR PATTERN
well, mapapansin nyu to sa mga candelstick charts. mataas ung chance, i remember it was about 60+%
This is simple guys, really
(ung pin un ung linya sa gitna ng bar.. )
Look for the "Pin Bar" with longer na tangkay relative to its body typically on 1hr, 30min, timeframe. depends on price volatility.
Notice this:
A. Pinbar with longer na tangkay kapag uptrend
signal: open a selling position (magbenta ka na kasi bababa ang price)
B.Pinbar with longer na tangkay kapag downtrend
signal: open a buying position (BUY BUY BUY kasi malapit na sa ilalim ng puting ilaw... buwan)
welp.. that's it for now guys.
(images to follow up)
1am.gotworkfortom.
Topic: TRADING TIPBIT1:COMMON CHART PATTERNS (Read 123 times)
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