NEO to go for a correction? (Trading for Beginners
Hello everybody,
I started to learn about trading recently, and I'll post my trade ideas based on Simple indicators for even new traders to understand ! :)
Neo is looking to go for a correction here.
We can take a look at 2 indicators:
1) RSI (Relative strengh index)
When above 70: Market is overbought --> price will fall
learn more about RSI here: https://www.investopedia.com/terms/r/rsi.asp
2) MACD
The difference between the short therm line (Blue) and the long term line is at its peak right now.
When the short term line is crossing above the long term line, it's a clear bullish sign. However, when the difference is too big, the market needs to correct. Which is confirmed by the RSI.
Learn more about MACD here: https://www.investopedia.com/terms/m/macd.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
Those indicators are on a week scale which is very strong !
Those indicators are the same used in my ETH short trade a couples of days ago
Please comment to let me know what you think.
I'll be posting other simple trade in the futur if you liked it !
I started to learn about trading recently, and I'll post my trade ideas based on Simple indicators for even new traders to understand ! :)
Neo is looking to go for a correction here.
We can take a look at 2 indicators:
1) RSI (Relative strengh index)
When above 70: Market is overbought --> price will fall
learn more about RSI here: https://www.investopedia.com/terms/r/rsi.asp
2) MACD
The difference between the short therm line (Blue) and the long term line is at its peak right now.
When the short term line is crossing above the long term line, it's a clear bullish sign. However, when the difference is too big, the market needs to correct. Which is confirmed by the RSI.
Learn more about MACD here: https://www.investopedia.com/terms/m/macd.asp?ad=dirN&qo=investopediaSiteSearch&qsrc=0&o=40186
Those indicators are on a week scale which is very strong !
Those indicators are the same used in my ETH short trade a couples of days ago
Please comment to let me know what you think.
I'll be posting other simple trade in the futur if you liked it !
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.