Tycoon Trading tips!  

Tycoon

Trading 3 years ago
1 QCP
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One way to open a trade is to look for certain points on the chart where the price has bounced in the past.
These can be recognized aside from psychological marks like round numbers also e.g. after the Fibonacci numbers etc.
You can recognize a support/resistance if in the past it was not possible to break it at least 2 times.
After breaking such a line, it is automatically transformed into the opposite.
This means that if the price bounced off 1,000$ a few times before and then broke through it, the resistance becomes a support where you can open new trades (but you should wait for confirmation).
If these lines hold over a long period of time, they will have more strength, but if they are hit multiple times in a short period of time, this usually indicates an imminent break!

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  • Crypto trading
  • Fibonacci
  • Market charts