Thread by @DaanCrypto

📚 Quick Trading Tips To Instantly Improve Your Game

This will be an indefinite series where I post quick tips on trading related subjects.

These tweets will consist of a quick explanation and chart whenever necessary.

Questions? Feel free to ask under the related tweet.

📚 Quick Tip - 1

One of the easiest ways to determine targets, while in price discovery, is using Fibonacci extensions.

The chart below is a prime example of how you could use such extensions.

We can clearly see that the 1.272 level offered some resistance on BTC in this case.

📚 Quick Tip - 2

To know what position size you should be taking, try using the Long/Short Position tools on Tradingview.

Set your account size and risk percentage.
Then determine your entry, stop and target.

The tool will show you your R:R and recommended position size.

📚 Quick Tip - 3

Funding can help you determine which side is the crowded trade and whether a move is spot-driven or not.

Very often, when derivatives lead the market one way, they are bound to get squeezed.

Price ⬆️ and Funding ⬇️ = Bullish
Price ⬇️ and Funding ⬆️ = Bearish

📚 Quick Tip - 4

Bitcoin and other assets often trade in ranges.

Range Lows/Highs often act as Support/Resistance.

You can define ranges in several ways. What I like to do is: after a bigger correction, take the low and the high that follows which will create the range.

📚 Quick Tip - 5

FTX, has "baskets" of different kind of coins, for example EXCHPERP which tracks a few different exchange tokens, which each have their own weight within the basket.

Charting these baskets can be good to see which type of coins are trending better than others.

📚 Quick Tip - 6

Rules of Thumb for Supports and Resistances (S/R).

🔹The higher the timeframe, the stronger a S/R is.
🔹The more touches a S/R has, the more important it becomes.
🔹If a S/R gets tested a lot in quick succession, it gets weaker.