Homework post for @reminiscence01- Confluence trading

1a.) Confluence Trading
In my own words based on my knowledge, confluence means 2 or more things working together in unity. So confluence trading is simply the analysis of a trading chart using two or more indicators/strategies in order to attain the highest possible accuracy before placing an order on that trade. For example, one can use the vortex indicator and the moving average on the same trading chart to get accurate results.
1b.)A trade setup can be enhanced using confluence trading in such a way that the 2 or three indicators will give off their "verdicts" or signals of how the price will move and from there the trader will know how to go about the trade.

2.) Importance of Confluence Trading in the crypto market
As we all know, the crypto market is very volatile compared the normal forex and stocks markets and can give off bloody spikes or bloody dips from time to time. Due to this, trading positions are meant to be opened with utmost care. Confluence trading gives a trader a thorough insight of however the pruce of a commodity is moving and this helps in his/her risk management.
Another thing that confluence trading helps a trader to do is allow him/her make the best trading decision comcerning that currency pair. For me this is the major reason for confluence trading.
With my second point above, we can also say that it helps long term investors find the right entrg points of commodities in order to facilitate a larger return on investment(ROI).

3.) 2-level & 3-level confluence trading
These types of confluence trading are very self explanatory to be honest. 2-level confluence trading is using 2 indicators/strategies when analysing a trade. For example, below i applied the vortex indicator and tge simple moving average on the BTCUSD chart

This is an example of 2-level confluence trading.

As for 3-level confluence trading, it is simlly using at least 3 indicators/strategies for proper analysis of a trade. For example, below ive applied the vortex indicator, simple moving average and exponential moving average to the ETHUSD chart.

4.) I wasnt able to open a demo trade because i havent found any crypto demo broker but here is my analysis as i will be using the 2-lecel trade chart as seen in my number 3 answer:

As seen in the picture above, the blue line of the vortex jndicator overlaps the red red which indicates a buy signal and this can be backed up by the moving average line as it tends to go up indicating a reversal in the previous trend which as we all know is bullish. So from this, we can say that the trend seen/experienced on the chart is a bullish trend and is a good entry point.

Conclusion
Every trader needs to have confirmation and assurance before placing a trade and confluence trading is just what he or she needs to give he or dhe that confirmation as it clears all doubt and rectifies all fakeouts. Confluence trading helps the trader to be particularly sure about the price movement of the commodity. Very good lesson and i hope to participate in more and learn a lot in other lessons to come. @reminiscence01