How To Analyze Any Chart From Scratch - Episode 7Hello TradingView Family / Fellow Traders. This is Richard, as known as theSignalyst.
Today we are going to go over a practical example on MANA, but you can apply the same logic / strategy on any instrument.
Feel free to ask questions or request any instrument for the next episode.
You can find the previous episodes below "Related Ideas"
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
MANAUSD.P trade ideas
MANAUSD ❕ fixing above the channelMANA is in the liquidity area and fixed above the descending channel.
The coin is above a large liquidity.
Price held 50MA (4H TF)
Trading volumes are showing interest in the upside of the price.
RSI and price have formed a bullish divergence (4H TF)
I expect price to rise from current levels.
The strategy of breaking the support lines and resistanceThe strategy of breaking the support lines and resistance of the trader. when the green line (1.120) and trend line broken with Confirmed by candle we can buy it with RR2
on the other hand if red line (0.7510) broken and confirmed by candle we can sell it with RR2
MANA, short-term rebound.The following are machine translations:
In the 4-hour chart, it fell to around 0.75 yesterday, stopped falling and rebounded. Today, it stepped back to around 0.75 and stopped falling again. It is rebounding and short-term bullish.
The indicator macd is about to turn a golden fork, to see a rebound. The RSI indicator started to rise from the oversold zone, and the rebound is expected.
In terms of operation, intraday low and long operation, there may be a short-term rebound, with a stop loss of 0.748.
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MANA/USD BROKE OUT THE UPPER TRENDLINE.Welcome traders. Here's a chart on MANA to keep an eye on.
In 4 hours of TF, MANA has broken above the upper trendline and currently retesting. Entering into this coin at the retest level between $0.97 to $1.03 will be a good entry. A rejection below $0.96 will be a no-trade zone on this one and we will have to consider a re-entry strategy later.
If we happen to take entry on this coin then the target will be $1.17, $1.25, $1.34, and $1.4.
Trade safely.
Utility and Resilience: MANA Bounces BackBear markets are often when long-term traders make their big moves - assets that seem to stabilize or even do well (MANA, MKR in the last few days) often show that a project has dedicated supporters and some legs to stand on during the "tough times". It's easy to make money during bull runs, but it's the projects that survive during bear markets that often lead to long-term growth.