Notes

Set Up Profitable Trading Using Fibonacci-Retracement
Relative Strength Index. The most used marks in RSI are 30, 70, and 60. A price that is above 70 indicates an overbought scenario, while a lower price of 30 indicates an undersold situation.

Another strategy I like when I'm more neutral is what is known as an iron condor. This is when I sell both a vertical short call and vertical short put on the same underlying for the month. With a $2 spread, I usually have at least $4 between short put and short call. On the SPY position, this might be a $114/112 call spread or a $104/102 spread.

Trendlines are extremely useful for trend confirmation. You can trade with confidence if you combine bullish trendlines and bullish candlestick trending pattern. This combination will tell you when to continue with an existing trade and when to start a new trade.

Another common Japanese candlestick reversal pattern that is very popular is the "123 higher highs and lower lows".This formation can be considered a good continuation pattern. However it can be used to signal that a trend might be shifting.It is known as the "123 Higher Lows and Lower Highs" because it consists of three waves. The failed test of a previous high, or low, is the third wave. bitcoin bullish The failed test signals the inversion of bull to bear markets and vice versa.This third wave is sometimes called a "lower high", or "higher low".

Another candlestick trend reverser pattern is the bullish and bearish engulfing patterns. A Bullish Engulfing Pattern occurs when a candlestick is opened lower than the previous candlestick close and opens higher than the prior candlestick's open.

Stay on the trend. You will eventually go bust. In determining the market trends, moving averages 50-50, 100, and 200 can be useful. Majority of your trades should be based on the market trend. The bullish trend would be indicated if the prices rise above the 50, 100, or 200 MA. Therefore, most of your trades should be on the buy side. There will be occasions when the price will retrace, the market trend never moves in a straight line but generally will move in alignment with the moving averages.

Draw a line to identify support and resistance levels. The more that the line is touched, it becomes more important as a support or resistance level. An uptrend is indicated by higher highs and higher lows. A downtrend is indicated when there are lower highs than lows.

Its through the purchase and selling of breakouts that uses chart highs and lows. If a bullish trend is evident on a currency, it is because the market has broken its highs and the trend continues. Trading aset koin indodax : Buying the best breakouts will bring you huge financial gains. But most traders avoid this strategy even though they know it's rational and can make money.
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