BTC: Real Life mirror level trading! Tutorial for Beginners!
Updated
💡A mirror level is a level that price tests as support and resistance several times. It helps to open long or short trades on a test of the level. Usually the mirror levels are numbers like 100, 1000, 50,000, which traders pay attention to. It can also be previous ATHs, important global levels that can be easily identified. Price bounces off of them because a large number of traders pay attention to it.
I have marked 2 global mirror levels for you:
1. $10101
2. $41950
On the chart I have marked tests of these levels. Also, on the chart you can see several short (+63%) and long (+59.7%) trades.
Now I give you 2 tips on how to open a trade using the mirror level:
🔶open a trade with a pending stop order. When the price is testing the level as support you can put a stop order to buy, and when it's resistance you can put a stop order to sell
🔶open the trade after the close of the candle. Once you are sure that the level has held the price as support or resistance you can open a trade
📑Based on the statistics, you can see that longs are more profitable. This is because Bitcoin and cryptocurrencies are growing 80% of the time. But you can calculate the statistics by yourself and consolidate your new knowledge!
🎓Also you can read the basic desription about Real Life channel trading in this educational idea!
✉Friends, if you still have questions about using the mirror level, write the comments or to the DM!
Press the "like"💟 button and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
I have marked 2 global mirror levels for you:
1. $10101
2. $41950
On the chart I have marked tests of these levels. Also, on the chart you can see several short (+63%) and long (+59.7%) trades.
Now I give you 2 tips on how to open a trade using the mirror level:
🔶open a trade with a pending stop order. When the price is testing the level as support you can put a stop order to buy, and when it's resistance you can put a stop order to sell
🔶open the trade after the close of the candle. Once you are sure that the level has held the price as support or resistance you can open a trade
📑Based on the statistics, you can see that longs are more profitable. This is because Bitcoin and cryptocurrencies are growing 80% of the time. But you can calculate the statistics by yourself and consolidate your new knowledge!
🎓Also you can read the basic desription about Real Life channel trading in this educational idea!
✉Friends, if you still have questions about using the mirror level, write the comments or to the DM!
Press the "like"💟 button and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
Note
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