Analyzing HBARUSDT using the major resistance strategy

Hello, my beautiful friends,
I remain you, boy, and tutor the candlestick box. You may be wondering why I selected the name of the candle stick box, not to worry with time you will get to understand better.

Every day of the week, I try to look for ways to better understand the candlestick pattern which has made me more familiar with the different candlesticks and chart patterns.

I have said earlier that the candlestick pattern is like a new language just like we have different programming languages such as Python, C#, etc. To be able to trade chart patterns correctly you need to study these patterns often.

Over time, I have become used to the candlesticks and I'm delighted because I'm getting to understand how the entire thing is working. Today, I analyzed a pair of HBARUSDT on a 4H timeframe using a major resistance zone.

I call it the major resistance because it is a zone that is respected in the higher timeframe of 4H. This zone has been tested several without breaking as you can see in the screenshot above.

The area marked with the rectangle shape is the area we call the major resistance. From the sell signal I placed on the chart, the price of the token is expected to drop down to that level which is a profit ratio of around 1:7 which is a very good risk-reward ratio.

One of the most important things in trading is the ability to manage your risk and not use more than 20% of your portfolio in a single trade. I have always said here that you must not lose more than 20% of your margin during any trade.

If you make your analysis properly and the market turns against you for any reason, don't allow it to take more than 20% and that is the reason why stop loss is very important in every trade.

I have seen people complaining about getting liquidated and the reason is simple they don't set their stop loss. No matter how good you are, setting your stop loss should be the first thing to do immediately after entering or before entering a trade.

When you abide by the little things I share here on my blog, you will see your crypto journey becoming much easier by the day. I want to sincerely appreciate everyone who always takes out time to read through my blog.

If you have any questions or inquiries, please use the comment section of this post. Your comment, contribution, and support will be highly appreciated and if need be I will attend to any questions about this ASAP.

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.}