Trading is the realm of response
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It's been a while since I made an indicator and explained it, so I'd like to take the time to introduce and explain something I heard a long time ago.
(Original text)
I made purchases at m-signal 1W in yesterday's fall as I see it rose above ha-low and closed above m-signals. It looks like m-signals can't prevent traps. Now I'm losing money again. I think it's better to make purchases when RSI is below 30. I don't want to feed market makers, somehow it happens over and over.
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Looking at the above, it seems that the purchase (LONG) was made when the price rose above the M-Signal indicator on the 1W, 1D chart and then started to fall.
If we check this on the 30m chart, it is expected that the purchase (LONG) was made near the section indicated by the circle section.
I said that it would have been much better to buy (LONG) when RSI was below 30, but when RSI was below 30, it refers to the section from February 25 to March 1, so I think it's regret due to the loss.
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If you look at what I explained as an idea, I said that you need to get support in the section marked with a circle to continue the upward trend.
And, I said that support is important near the HA-Low indicator when it falls.
Therefore, if it falls in the section marked with a circle, you should enter a sell (SHORT) position.
However, if you do not see a downward trend, you should trade based on whether there is support in the HA-Low indicator.
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To check for support, you need to check the movement for at least 1-3 days.
Therefore, checking for support is a difficult and tedious task.
Since most futures transactions are made on time frame charts below the 1D chart, you cannot check for support for 1-3 days.
Therefore, you need to check the movement at the support and resistance points you want to trade and respond accordingly.
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The coin market is a market where trend trading is good.
Therefore, it is important to know what the current trend is.
It is better to think of the basic trend based on the trend of the 1D chart.
The current trend of the 1D chart is a downtrend.
Therefore, the SHORT position can be said to be the main position.
As mentioned earlier, in order to turn into an uptrend, support must be received within the range indicated by the circle.
If not, it is likely to continue the downtrend again.
Since the HA-Low indicator has been newly formed, the 89253.9 point is the point where a new trading strategy can be created.
If it is not supported by the HA-Low indicator, it is likely to lead to a stepwise downtrend, so you should also think about a countermeasure for this.
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What we want to know through chart analysis is the trading point, that is, the support and resistance points.
You should decide whether to start trading depending on whether there is support at the support and resistance points.
Even if you start trading properly at the support and resistance points you want, you must also think about how to respond to a loss cut.
If you cannot think of a response plan for a loss cut, it is better not to trade at all.
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Indicators are only reference materials for your decisions, not absolute.
- The M-Signal indicator on the 1D, 1W, and 1M charts is an indicator for viewing trends,
- The HA-Low and HA-High indicators correspond to points for creating trading strategies.
The creation of the HA-Low indicator means that it has risen from the low range, and if it is supported by the HA-Low indicator, it is the time to buy.
If it does not, and it falls, there is a possibility of a stepwise decline, so you should think about a response plan for this.
The creation of the HA-High indicator means that it has fallen from the high range, and if it is supported by the HA-High indicator, there is a possibility of a full-scale upward trend.
If not, it may fall until it meets the HA-Low indicator, so you should think about a countermeasure for this.
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If the price is maintained near the StochRSI 50 indicator on the 1D chart, it is expected to lead to an increase to rise above the HA-Low indicator on the 1D chart.
At this time, if it rises above the M-Signal indicator on the 1D and 1W charts, it is likely to lead to an attempt to rise near 94827.9.
If not, it is likely to end as a rebound.
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Thank you for reading to the end.
I hope you have a successful trade.
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