Analyzing and Demo Trading COMPUSDT using Green Army strategy

Greetings dear friends,
It's your favorite crypto analyst @simonnwigwe from Nigeria 🇳🇬, I'm here today again to share with you all an insight into what the Green Army is all about in the crypto market. I said in one of my previous posts here in this community that there is this slogan used by traders to identify a bullish market and a bearish market and that is the Green and Red armies respectively.

When the market is green means almost all the assets are rising, we say that the Green Armies are taking charge of the market, and what traders look out for are buying or long opportunities. Similarly, when the market is red we say that Red armies have taken charge, and what we look for is Selling opportunities.

With this basic knowledge, anyone who is familiar with this terminology will always know what to do when he sees the market greenish or when the market is reddish. So as we can see from the above screenshot, all the assets I kept on my watchlist are greenish and that is a signal that what I need to do in the market now is to long or buy.

With that in mind, I went straight into one of the charts which is the chart of COMPUSDT, and I decided to draw my support and resistance line from the 1D timeframe after I was done with that, I went ahead to a lower timeframe of 4H to see how the market looks like.

From the chart above, you can see that the price is trending above the support level, and the first bullish candle on the 4H timeframe closed very strongly with a very high volume as seen in the chart above. These made the same belief that the market may go in an upward direction.

Since I saw the price above the support level and the watchlist also showed that the entire market is greenish, I decided to introduce my buy logo immediately after the closure of the 4H candle as you can see in the image below.

From the chart, the stop loss is kept immediately below the last bullish candle and, the take profits are kept at the next resistance level. This is a very per risk-reward ward ratio strategy or a good risk management strategy because we are not in for much profit and we are also not losing much.

Having done that, to properly keep track of my trade, I decided to introduce the demo trade of the assets as you can see from the screenshot below. This shows the amount of profit I'm supposed to make if the market goes in my favor and how much I will lose if the market goes against me.

Based on the above screenshot, the take profit will be 6.95 USD, and the stop loss be 1.20 USD which means that if the market goes in my favor, I will earn 6.95 USD and if it goes against me I will be losing 1.20 USD.

Finally, I also took a screenshot of the position that I opened for the trade as it contains all the information you need to know about the trade I took. The screenshot below shows the open position.

From the screenshot above, you will notice that the side is long (buy), the quantity is 1, the average fill price is 51.31, the take profit level is at 58.26, the stop loss is at 50.03 and lastly the P&L at the moment is 0.00, that is all about the open order.

Conclusion

Trading the crypto market using the Green Army Strategy is one of the easiest ways to make a profit because you know the direction of the market. Trading with the trend is the best way to make money in the crypto market hence I urge us all never to trade against the trend.

Remember also that trading is like meditation, patience is the key. Always wait for the market to come to you and not for you to go to the market. Learn to identify your key support and resistance level and also trade with the trend and in that way, you will be a successful trader.

Finally, I want to thank you all for reading through my post today. If you have any questions or contributions, please do well to use the comment section of this post. See you all in my next publication.

Disclaimer: ^{This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your research and consult a financial advisor.}

NB: All images except otherwise stated are mine and taken from tradingview.com website