Hello guys, in this idea we use a basic setup to spot a possible trend change and to determine a general direction for our trades.
There is one rule i always try to apply when i throw money in the market - do not trade against the trend.
Especially not if you do margin-trades.
How to verify an uptrend:
How to verify a downtrend:
As long as the price stays below $7.200, we are trading in a downtrend and only trade short positions.
Use additional trend lines to verify levels to look out for.
If you have any questions, feel free to join our monetae Crypto Hub (linked in my signatur) or leave a comment on TradingView.
cheers,
cryptobuller
There is one rule i always try to apply when i throw money in the market - do not trade against the trend.
Especially not if you do margin-trades.
How to verify an uptrend:
- The price is making higher highs and higher lows
- The price is trending above the Moving Averages (50, 100)
- New highs are approached with big buy volume (green)
How to verify a downtrend:
- The price is lower highs and lower lows
- The price is trending below the Moving Averages (50, 100)
- Lower lows are approached with big sell volume (red)
As long as the price stays below $7.200, we are trading in a downtrend and only trade short positions.
Use additional trend lines to verify levels to look out for.
If you have any questions, feel free to join our monetae Crypto Hub (linked in my signatur) or leave a comment on TradingView.
cheers,
cryptobuller
