π 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.
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.
π 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.
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.
π 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.
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.
π 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 β¬οΈ and Funding β¬οΈ = Bullish
Price β¬οΈ and Funding β¬οΈ = Bearish
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 β¬οΈ and Funding β¬οΈ = Bullish
Price β¬οΈ and Funding β¬οΈ = Bearish
π 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.
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.
π 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.
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.
π Quick Tip - 6
Rules of Thumb for Supports and Resistances (S/R).
πΉThe higher the timeframe, the stronger a S/R is.
πΉThe more touches a S/R has, the more important it becomes.
πΉIf a S/R gets tested a lot in quick succession, it gets weaker.
Rules of Thumb for Supports and Resistances (S/R).
πΉThe higher the timeframe, the stronger a S/R is.
πΉThe more touches a S/R has, the more important it becomes.
πΉIf a S/R gets tested a lot in quick succession, it gets weaker.
β’ β’ β’
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