Basic example of starting a trade
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This is an example of starting a trade, explaining that you should objectively define the basics that are right for you.
Therefore, I hope that this will be an opportunity to reexamine your trading judgment criteria rather than judging it as right or wrong.
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It is showing a downward trend without breaking through the sell line of the superTrend indicator.
Accordingly, the key is whether it can receive support near the M-Signal indicator (approximately 59953.52) on the 1W chart and rise above 60672.0-61099.25.
If not, you should check whether it is supported near the MS-Signal (M-Signal on the 1D chart).
Therefore,
1st: 59053.55
2nd: 57889.10
You should check whether it is supported near the 1st and 2nd above.
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Usually, there are many cases where you trade impulsively based on your psychological state.
To prevent this, it is good to have an objective trading method according to your investment style.
This objectification is best done at the support and resistance points drawn on the 1M, 1W, and 1D charts.
Therefore, it is good to trade based on whether it is supported near 59053.55 or 60720.0-61099.25.
However, judging whether it is supported only by sight can lead to an incorrect judgment depending on psychological factors that occur during trading, so it is good to have objective information as the basis for judgment.
It refers to indicators added to the chart as objective information.
The MS-Signal indicator is used as a trend-related indicator, which is the M-Signal indicator of the 1M, 1W, and 1D charts.
As a trading-related indicator, the HA-Low, HA-High indicators and their corresponding box sections, superTend, and volume profile are used.
As a trading-related reference auxiliary indicator, the BW indicator and StochRSI indicator are used.
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If we explain the current movement by referring to these indicators,
- The superTrend indicator, which is passing around 60672.0-61099.25, has failed to rise above the sell line,
- It is showing a downward trend below the M-Signal indicator of the 1W chart,
- The StochRSI indicator is showing a trend of changing from an upward to a downward slope in the overbought section. However, since the StochRSI indicator has not yet fallen from the overbought zone and is not in a state where StochRSI < StochRSI EMA, it is difficult to see it as a downward turn.
Therefore, an aggressive sell (SHORT) is possible between the M-Signal indicator of the 1W chart and the 60672.0-61099.25 range.
Afterwards, when the StochRSI indicator falls from the overbought zone and becomes a state where StochRSI < StochRSI EMA, if it shows resistance near 59053.55 or the MS-Signal (M-Signal on the 1D chart) indicator, you can sell (SHORT).
If it is supported at the point mentioned above, you can buy (LONG).
However, it is recommended to check whether the state has been changed to StochRSI > StochRSI EMA.
If not, it can pretend to rise and fall right away.
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Have a good time. Thank you.
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- Big picture
It is expected that the real uptrend will start after rising above 29K.
The section expected to be touched in the next bull market is 81K-95K.
#BTCUSD 12M
1st: 44234.54
2nd: 61383.23
3rd: 89126.41
101875.70-106275.10 (overshooting)
4th: 134018.28
151166.97-157451.83 (overshooting)
5th: 178910.15
These are the points where resistance is likely to be encountered in the future. We need to see if we can break through these points.
We need to see the movement when we touch this section because I think we can create a new trend in the overshooting section.
#BTCUSD 1M
If the major uptrend continues until 2025, it is expected to start by creating a pull back pattern after rising to around 57014.33.
1st: 43833.05
2nd: 32992.55
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