Trading cryptocurrency; Complete strategy guide for beginner : Buying the moon lambo.

Strategy guide for beginner

" Don’t Chase Profits. Just Do The Right Things.
Profit will follow automatically. "

Part 1 : The trend gives you the biggest bang for your buck
The definition of the trend is this…

Uptrend – consists of higher highs and lows

Downtrend – consists of lower highs and lows

If you want to know where’s the path of least resistance, look left (and follow the trend).

When the price is in an uptrend, you should stay long. When the price is in a downtrend, you should stay short.

By trading with the trend, you can see that the impulse move (green) goes much more in your favor, compared to the corrective move (red).

Here are a couple of examples…

or
for the bitcoin :

Next : Identify areas of value on your chart

Support & Resistance
And this is the definition of it:

Support – an area with potential buying pressure to push price higher (area of value in an uptrend)

Resistance – an area with potential selling pressure to push price lower (area of value in a downtrend)

Here’s what I mean…

Dynamic Support & Resistance
What you’ve seen earlier is what I call, classical Support & Resistance (horizontal lines)

Alternatively, it can come in the form of moving average. This is known as dynamic Support & Resistance (and I use the 8,13, 21 and 55 EMA).

Like that !

Not only does support & resistance allows you to trade from an area of value, it improves your risk to reward and winning rate as well.

Next part : High probability trading — using Stochastic to identify areas of value