Trading tips

Trading tips ^

^ @cryptochoe @philakonecrypto
Blogs for my own knowledgebase and educational purposes only

Time Frames:

1. 1 - 30 minute charts are for day-trading. This timeframe does not give the bigger picture.
2. 1 to 4 hour charts gives you a sense of the next day or two to play.
3. 6 hour and more gives you a picture of weeks or months.
4. Use all of them to make decisions.

Trend line:
When you're trading any coin, always know your major trend line resistances and supports. Draw them in and make them visibly clear. These points are critical where if broken, can signal a major change in direction.

When you're swinging on any time-frame, you want to:

1. Draw you horizontal lines - support and resistances.
2. Identify the pin bar - these are candles that drop below the support for a very short time period
3. Enter your long position and take profit at the resistance.

Pro Tip:

1. The PREVIOUS trend needs to be an up-trend for a continuous pattern (ascending triangle, bullish flag, bullish pennant) to occur
2. If the prior trend was falling, it’s not a bullish trend. This traps novice traders.
3. Notice this chart - the previous trends.