Analyzing STMXUSDT on a 4H timeframe

Hello guys,
Welcome to my blog again. Today we are going to be analyzing a pair of STMXUSDT on a 4H timeframe and I hope you all will follow.

Daily I try to ensure I analyze a coin even if the market doesn't go in my favor sometimes analyzing helps me to see a few mistakes and where I can improve.

Analyzing the crypto market is one skill I will continue working to achieve and I believe with time it will be a success. That being said, let's consider the pair we are analyzing today.

From the above screenshot, we can see that the pair of the assets was rejected at the support level and the indicator also shows that the token has been oversold. Seeing that, it was a clear confirmation that the market may be taking a different direction upward.

Before that oversold phase came up, you will notice that the market had been on a downtrend move for a long time now, and seeing that alone means that there are possibilities for the market to change direction to the upward side.

Looking at the above screenshot, I noticed that the blue line in the indicator is above the orange 🍊 line and that indicates that the movement of the asset is going to be upward.

Without wasting time, I took the trade by introducing the long logo which I made a trade with a risk-reward ratio of about 2:20. This is indeed a good trade if the market goes my direction.

Since I'm still learning and putting into practice what I'm learning, I have decided to demo trade because I needed to see what will be added to my account if the said trade goes in my predicted direction.

From the image above, I have placed the demo trade as too can see. The reward is indeed juice and if the market goes my way the joy won't only be that if the reward but also the market respects my analysis.

That is always the joy of every crypto trader. I will continue to work hard to improve my analysis as I return to real trading soon. The demo has proven to be effective in most cases.

If you have any questions or contributions about the movement of the said asset, endeavor to use the comment section of this post, and I promise to attend to it ASAP. See you all again in my next publication. I wish you all the best as you trade today.

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.}