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To be able to trade on the Forex market, you must have a thorough understanding of the fundamentals of how the system works and applies to your trading. There are three main areas to cover, which I will outline for you and show you how to use them to trade successfully with the Btc currency pairs. There is a lot to learn, but this article is to get you started with the basics so that you can start making profits.
The first area that we will discuss is price action. Price action is really what makes or breaks a successful trade. This is why we use a trading chart. The chart shows us where the price is at any given moment in time. hot graph You need to be able to see it clearly and have a good idea of its momentum. If you are not sure, use several different charts at different times.
Momentum is the next area to focus on when you are analyzing the trading chart. Momentum is defined as the speed by which prices move. If they are moving very quickly, then sellers have the upper hand. Buyers will have to catch up and eventually the price will drop. There are many variables out there that can help you decide when to buy or sell.
There are also support and resistance on the chart. Support is where the price is falling back after a strong high. Resistance is the level where it is basically breaking down and will continue to fall back down.
One other factor that we will need to examine at a time is the time frame. A time frame is a chart that gives you an idea of how long the price has gone up or down. You have a clearer picture of where it is headed. Use them all the time, but especially when you are analyzing your entry and exit signals.
As I said at the beginning, learning all these things takes time. It is very easy to go to the Google charts and look at them. hot graph But unless you do your research, then it's just a lot of guesswork. And I know that some of you have a lot of guesswork to do. You should get on a training course or buy a trading course like I did and start gaining the knowledge you need to be successful with this great new way of trading the financial markets.
Read More: https://ruaylotto.mobi/how-to-interpret-the-bitcoin-chart/
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