WRX / BTC by Rocket Bomb 🚀💣Hello, guys!
WRX / BTC looks good!🔥
The cryptocurrency market is full of opportunities every minute!You can earn a lot and You can lose a lot🤷🏽♀️
In pursuit of wealth, we forget about the main thing - it's safety!
What is needed for stay safe? - Calculate the risks correctly!
If you are building your portfolio for a medium or long term, the best option would be to buy altcoins, that are at the bottom.
The price may not fall so low, that's why I always recommend splitting buy orders!!!Buy little now for don't miss entry point.If it goes lower, then you average the buying price - it will be great anyway!
Tell me, do you trade Alts vs BTC?
how are your results?
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
Rocketbomb
BTC/USD : in 2021 - 2019 - 2018 by 🚀💣Guy's that's continuation of my post today👇
Look carefully, what I have prepared for You!♥️
That's a comparison of Bitcoin movement in 2021, 2019, 2018, respectively.
Let's take a look at the different options. What we can expect from this?
1. Looking at 2019, we can wait for a slight upward pullback when exiting the triangle (and the triangle will most likely be expanded. That's, the price can go down, thereby continuing to form a pattern)
2. Looking at 2018 after the breakdown of the extended triangle, we will simply go lower and lower and can lose in price from 50 to 70 percent
3. Option (it's very optimistic, but can be real.) We can break the extended triangle upwards and reach the 60+ level. It would be different from previous years.
Remember, that we need to follow the price further, the situation will become clearer. That's how I see it at the moment.♥️
Stay with me ♥️
Your Rocket Bomb🚀💣
BITCOIN : buy on rumours sell on news🙏Hi, Guys, if you noticed, there is a lot of good news about Bitcoin today!🤦🏼♀️
📌I can tell You from my past experience, that's a bad sign for huge growth.
Now I'll express my opinion, 🙏 a request to those who like to argue, <>🙏
The price is now artificially pumping (so that big market players can sell profitably. During the altcoin season, we'll be able to see similar pumps and dumps several times).
I propose to switch to altcoins, which are still in a deep bottom, and buy them for a long time, because this can bring much more profit than Bitcoin, the price of which is unlikely to rise much.
I'll cite DOGE as an example . I was recommended to add it to Your portfolio, many traders laughed at me, said that it was a dead coin.
What happens today?
My private messages are bursting with questions "Still have good opportunity to buy Doge?"
NO GUYS! Forget about it!🙅♀️
💡 News noise and the work of marketers is bad for young investors to make the right decisions!!!Be careful!
There are many more coins that are at the bottom and that no one talks about, look for them and add them to your portfolio!
If You have any questions, write me in the comments😍
BTW, I sell my BTC today and I feel free and happy🤣
Stay with me ♥️
Your Rocket Bomb🚀💣
Dogecoin: Hope you like pets🐕 vrs. 2 😉Hello, my dear friends! Not long time ago, I made 👇 this post for You!
Hope, that You are with me from that time and already fixed some profits!💪
For those, who aren't I made this post with re-entry point, because it's not too late.
You can Buy in orange zone levels 30-35-38
take profits levels You can find on the chart!
Enjoy Your trading 😻
Thank you for staying with me🧡
Sincerely Yours Rocket Bomb🚀💣
Trend Continuation Patterns & Reversal Patterns🚀💣Hi, friends! Let's keep learning?😉
Today we are talking about <> and <> of Technical Analysis 😊
- this girls try to tell You more details😉
Hope, It would be helpful for You♥️
🐂Bull flag🐂
The principle of bullish flag trading, like all technical analysis figures, is the same - a breakout of the control point is required. As soon as a breakdown has occurred, you can immediately post the target. The target in a bull flag will be the height of the pole.
There is one more feature of this figure - the canvas of the flag should be tilted against the main trend.
🐻Bear flag🐻
For the most profitable entry, it is better to enter into a deal with a pending order. As soon as the trade is entered, the take profit is placed at the height of the pole from the breakout point of the pattern.
🐂Bullish pennant🐂
The pattern trading rules are identical to the bull flag trading rules.
🐻Bearish pennant🐻
The trading rules are the same as for the bear flag .
💥Head & Shoulders Pattern💥
After the pattern has become clearly visible, namely, the right shoulder is clearly visible, the trader needs to wait for the neckline breakout. Breakouts occur on strong impulses with a sharp increase in volume . Therefore, in order not to miss the entry and enter at the best price, it's better to use a sell stop order.
To calculate where the price will go after the breakout of the pattern, it is enough to measure the height of the pattern (vertical from the maximum of the head to the neckline) and postpone it to the breakout point.
💥Inverted Head & Shoulders Pattern💥
An inverted head and shoulders pattern occurs in a downtrend and heralds an uptrend. The rules for working on a figure are similar to the previous ones.
It is worth noting that the head and shoulders pattern is rarely encountered in its pure form. Be careful!
💥 Double Bottom Pattern 💥
After you have identified the pattern on the price chart, you need to wait for the breakout of its resistance line. If the price has broken through the resistance, then the target will be the width of the pattern's range - the distance from the lowest point to the resistance.
💥Double Top Pattern 💥
A double top is similar to a double bottom . The only difference is that this pattern is reversed and occurs on uptrends.
The number of extrema in a pattern can be not only double, but also triple, and even more. But the rules of work will be identical for everyone - enter on a breakout, postpone the target to the height of the figure and wait for its execution.
💥Diamond💥
We measure the height and wait for the breakdown of the diamond. If a breakout has occurred, then the price movement target will be the height of the pattern from the breakout point.
💥Cup & Handle💥
Trades are opened on the breakdown of the "handle" upwards. Target is the height of the figure.
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb🚀💣
Maslow's Pyramid & Rocket Bomb Descriptions in trading 🚀💣Hello, my dear lovers of self-development!💙💛
I haven't posted any EDU Posts for a long time. For me, each of them is special, in which I put all my soul and creativity 🤗
Today I would like to talk with You on very interesting topic - which calls <>!
This post was created by myself this summer, SPECIALLY MY THOUGHTS, based on Maslow's Pyramid of Needs.
If you start reading modern literature, You'll understand, that most authors think, that Maslow's pyramid no longer works, or doesn't fully work. 🤷🏻♀️
⚡According to Maslow, higher-level needs can only arise when lower-level needs are met⚡
Someone may disagree with this, but personally for me, everything is very transparent and obvious. Only by closing the basic needs (basic knowledge in trading) we go further, we simply don't think about what we have attained the truth in a certain sense.🙏🏻💥
Now it has become fashionable in the world to refute theories and make adjustments in it🙄 But the wisdom, that has been passed down to us for centuries can't be ignored.🙏🏻
Today I would like to share with You Maslow's Pyramid in my descriptions for traders. Hope You'll like it🙏🏻
⚡At the first stage, a trader tries to cover the most basic needs: most often a person comes to the market for money, and that's the physiological need in trading.
⚡Going to the second stage, he seeks safety, because he faces difficulties ... and only if he realizes, that on the first stage he made a mistake (down arrow), after re - thinking, he can move on to the third stage (up arrow).
But that's a huge work. It takes time and endurance , patience and calmness, desire and fortitude!💪🏻
⚡With the transition to the third stage, a person becomes more successful, he change his thinking . And that's a great sign on the road to success.💪🏻 He begins to be proud of himself, but realizes, that there is an opportunity to develop further.🚀
⚡The fourth stage - he start makes a good profit, the trader, by default, accepts all previous experience and moves on, filled with motivation and success.💪🏻
⚡And the fifth stage - most important thing for any trader is self-realization. A trader understands, that he is successful, self-sufficient and he has something to share with other traders ... he can motivate, inspire, and that's the highest reward !!!💪🏻
Only 5% of traders reach the 5th stage, and maybe less.🔥
Do you strive to be part of that 5 percent?☝🏻🧐 At what stage do you feel yourself?
Thanks for Your attention🙏🏻
Stay in touch🧡
Sincerely yours Rocket Bomb🚀💣
Bitcoin & Rocket Bomb's view 🧐Hello, friends! That's my new update on Bitcoin price movement 🚀💣
You know, that I wanna sell my last part of long term holdings at 38 000 - 38 500, but the price didn't come to my sell order a little, and below I was too greedy🤦🏼♀️
I hope, that there will be an opportunity to sell at 35-36k - this should be done by those, who want to sleep well and fix profit💪
I have monitored the market for similar movements in past years, when a lot of traders began to sell Bitcoin (in the area in which we are now) and drove the price very low. (I try to make post with comparison today for YOU♥️)
Now the price is forming a rising wedge (some of You may see a bearish flag), so we may see the price around 28k soon.
Then the price can accumulate for some time, and then the most interesting thing will happen. Either a quick bounce (up to 40k) or fall below. Also possible more optimistic scenario, that we will rise up to 60k+ (IMHO it's unlikely)
💪Stay strong . Be ready to languish for a very long time ....
But we can still work in the short term. As I said in my last month posts😊
My previous charts 👇
Ethereum / Dollar by Rocket Bomb 🚀💣Hi, guys, let's look at Ethereum, I wanna share my thoughts with You ♥️
On the right side You can see Ethereum/Dollar on 1d chart. The price going in ascending channel and most likely soon will see a growth up to 1600 -1700 - 1800$.
An ascending channel occurs when visually analyzing an overall uptrend in the asset price. It is a method of technical analysis where the bottom line is described as the trendline “support” and the top line is called the “resistance.”
Trading the Ascending Channel. - For stay safe, and according to the rules of technical analysis, you should wait for the breakdown of ascending channel !! But also you can buy at the bottom of the channel, it's up to you to decide what to do!😉
A stop-loss order should be placed slightly below the lower trend line to prevent losses if the security's price abruptly reverses. Traders who use this strategy should ensure there is enough distance between the pattern's parallel lines to set an adequate risk/reward ratio!
For stay safe, and according to the rules of technical analysis, you should wait for the breakdown of ascending channel !! But also you can buy at the bottom of the channel, it's up to you to decide what to do!😉
If you are interested in how to trade using channels or other figures of technical analysis, write in the comments, I'll be happy to create an EDU post for You.
Stay safe and profitable🙏🏻
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
VET / BTC by Rocket Bomb 🚀💣Hello, friends !
VET - that's coin interest a lot of people!
That's my view on this coin in mid-term - long - term perspective)
I would like to pay your attention to some of the cryptocurrencies that have been forming a falling wedge for several months.
Because the two levels are not parallel it’s considered a terminal pattern. This implies that it must eventually come to an end.
MY ADVICE to You , my dear💋
The price may not fall so low, that's why I always recommend splitting buy orders!!!Buy little now for don't miss entry point.If it goes lower, then you average the buying price - it will be great anyway!
Tell me, do you trade Alts vs BTC?
how are your results?
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
Possible dependence of LTC and ETH on BTC🚀💣Hello dear traders!♥️ Today, Bitcoin has fallen sharply in price (many of you asked “is it worth selling Bitcoin?” My answer is, “Definitely not!” When you see many red candles in a row, the main rule is - keep calm or close your computer and go on air, in case of emergency, do 100 squats🤣 🤣🤣
The moments when you feel bad, just think that everything will be fine soon!
On the chart, I tried to show the current situation for Bitcoin and Ethereum and Litecoin, respectively.
On the left of the Bitcoin chart, you can see, that we are already coming to the end of the triangle, the exit will most likely happen before the end of the week.
During this time, I think Litecoin and Ethereum should start moving up, while Bitcoin will reduce its volatility.
Today's dump is inside a symmetrical triangle😉.(Thank God, I didn't look at the price at this time I forced myself to leave my home, I wouldn't have done it, if not my relatives, who would have to be picked up from the airport 🤣🤣🤣
Yes - yes, I'm also sometimes weak-willed, but I struggle with myself🤣🤣🤣)
Stay safe and optimistic🙏🏻
I try to be helpful for You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
Bitcoin & Rocket Bomb's view 18.01.2021🚀💣Hello, dear traders! That's my new Bitcoin update for 01/18/2021.😊
A huge request for those, who don't like me, who experience personal negativity towards me, refrain from insulting and caustic comments! Let's respect each other🙏
Remember, that I'm just expressing MY personal opinion on MY personal page.
ow to the point.😉 At the moment, the bearish dominance reigns in the market! Whether the bears will manage to take over the market completely, we'll find out in the next 2-3 weeks! In the meantime, I'll fixed the remains of Bitcoin and wait for a slow, unhurried movement inside the large triangle.
The altcoin season, I think, will also open very soon. While Bitcoin is slowly moving along a downtrend (volatility has decreased markedly, you may noticed this), Altcoins vs Bitcoin will begin to move , thereby pulling Altcoin vs Dollar.
Of course, I always have a plan B. You know that lately I have been more focused on short-term deals. Thus, no one takes away from us the opportunity to trade Bitcoin if the bull run continues😉
Just remind you mu yesterday's chart👇
What's Your plan on Bitcoin? Did You stay Bullish or return into Bear?
Share your vision with me♥️
Stay safe and profitable🙏🏻
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
Bitcoin & Rocket Bomb's view on 16.01.2021🚀💣Hello, dear friends!♥️
Bitcoin's price movement forms a symmetrical triangle. We can see it on two timeframes - on the daily (left) and hourly (right).
We know, that symmetrical triangle is a figure of uncertainty, that's why it's very dangerous. Especially when the price of Bitcoin is very high.
But knowing certain rules, we'll be able to assess the side of the price movement with a higher probability.
🔺a triangle is considered reliable and indicates a high probability of the continuation of the trend, if the trend lasted for at least several weeks before its formation;
🔺to build this figure, at least four points are needed - two for the resistance line, two more for support (a more reliable triangle is formed by six points - three for the top line, and three for the bottom);
🔺as the triangle forms and the range narrows, the trading volume should decrease;
🔺the approximate purpose of price movement is usually determined by the width of the triangle.
📌Traders should be very careful when working with a triangle, especially with a symmetrical. Each time when such a figure is forming, two likely scenarios of price movement should be taken into attention.
Let's take a look how it worked on previous analysis 🧐
Stay safe and optimistic🙏🏻
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
BITCOIN: the END of BULL RUN by Rocket Bomb 🚀💣Hi, guys! You know, for a long time I sleep very badly! I feel a huge responsibility for each of You!
Now It's midnight on my watch, but I'm obliged to publish this post. That's not a horror story, that's a reason to think carefully!
Many of You know, that I have been trading Bitcoin since 2017 - and the beginning of 2018 made me practically “bankrupt”, because I didn't believe, that the growth was over.
Much has changed since then, I have learned a lot, and this spring created a TV page and I met You. I'm incredibly grateful to everyone of YOU. And I try to do my best for You!Each of My posts was created with love and respect for my followers!♥️
With this post, I wanna warn about a POSSIBLE trend reversal, so those who follow me, could fix profits ON TIME!!!!
I'm planning to sell the remaining Bitcoin in the range of 38,000 - 38,500! And I advise everyone to do it.
Guys, I really wanna be wrong, but wise Ukrainians say "a tit in the hands is better than a crane in the sky"!
If the bullish trend recovers, we'll find many opportunities for trading, but for now it's better to keep what we already have!
Stay safe and optimistic🙏🏻
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
FET / BTC by Rocket Bomb 🚀💣Hello, friends! FET/BTC looks like accumulating in the very bottom!
looks like not bad potential!
MY ADVICE to You , my dear💋
The price may not fall so low, that's why I always recommend splitting buy orders!!!Buy little now for don't miss entry point.If it goes lower, then you average the buying price - it will be great anyway!
Tell me, do you trade Alts vs BTC?
how are your results?
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
XTZ / BTC by Rocket Bomb 🚀💣Hi, guys! Alts vs BTC didn't grow so long time. Now I'm looking for some, that stay in real bottom to catch some profits)
XTZ / BTC looks like breakout the down trend line.
I would like to pay your attention to some of the cryptocurrencies that have been forming a falling wedge for several months.
Because the two levels are not parallel it’s considered a terminal pattern. This implies that it must eventually come to an end.
MY ADVICE to You , my dear💋
The price may not fall so low, that's why I always recommend splitting buy orders!!!Buy little now for don't miss entry point.If it goes lower, then you average the buying price - it will be great anyway!
Tell me, do you trade Alts vs BTC?
how are your results?
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
OMG/ BTC by Rocket Bomb 🚀💣Hello, traders!💋
While Bitcoin have sideways movement for several days, altcoins can give us an excellent results.🔥🔥🔥
I would like to pay your attention to some of the cryptocurrencies that have been forming a falling wedge for several months.
Because the two levels are not parallel it’s considered a terminal pattern. This implies that it must eventually come to an end.
MY ADVICE to You , my dear💋
The price may not fall so low, that's why I always recommend splitting buy orders!!!Buy little now for don't miss entry point.If it goes lower, then you average the buying price - it will be great anyway!
Tell me, do you trade Alts vs BTC?
how are your results?
I try to be useful to You🧡
Always sincerely with You😊
Your Rocket Bomb🚀💣
ETHEREUM vs LITECOIN Hello, dears!
As you may have noticed, Bitcoin, Ethereum and Litecoin are my favorite cryptocurrencies, I trade them all time. Some I just keep as long-term investments, and some I trade intraday or medium-term.
They have great volatility and it's a great opportunity to make money. I just love my job.😍
On this chart, you can see that these two altcoins have formed the same triangle on downtrend.
Identical picture on Bitcoin now👇
Let's see how the price will move in the near future. It seems to me, that growth can be expected for both of these altcoins. Especially Litecoin, in my opinion, has excellent growth potential.
While the price is moving inside triangle is a good opportunity to make a purchase.
I wanna remind you, dears, that the crypto world is full of possibilities, but without knowledge there is nothing to do in it. Don't try to trade every move, it's impossible.
Build your own strategy, that will works for you!
There is no quick money here, experience and hard work a big role here. Those who take a lot of risk quickly lose everything.
I'm happy to be useful, stay tuned, learn and NEVER stop developing - that's the key to success💪
Appreciate each of You♥️
Your Rocket Bomb🚀💣
Possible rise up to 38kHello, friends! Just quick overview on Bitcoin price movement!
IMHO, the price formed typical Bitcoin's bullish pattern 😉 But on the chart we can see a triangle on bearish trend, that can confuse many traders!
So, let's see how it goes.
I'm waiting for possible sideways, because many alts stay not active, that way it can growth a little.
Thank you for staying with me🧡
Sincerely Yours Rocket Bomb🚀💣
BITCOIN 🤯Is it real H&S pattern?🧐Hi, today I received a lot of questions about the formation of the <> pattern on the Bitcoin price movement.
Guys, I understand, that the market is in a state of correction now, and seeing this pattern makes you nervous.
But let's try to figure out what may await us in the near future.
On the left side of my chart, you see the current situation. If the price breaks the neckline, only after that you can go into short position. IMHO, ONLY after breakdown 28 k we'll can talk about a trend reversal and worry about the subsequent dominance of bears in the market.
To be honest, I don't think this will happen. This can't be denied, but in my opinion it's unlikely.But who knows...
On the right side, you can see several similar movements in Bitcoin when the price WOULD LIKE to form this pattern, but the neckline was not broken and prices moved up.
DON'T TRY TO OUTSTIP THE MARKET! It will bring you only losses!
I know, that many guys have made tutorial posts on <>, I don't know if You need another one from me.
If you need it, let me know about it in the comments😚
I try to do my best for you, my dears😘
Stay with me😊
Your Rocket Bomb🚀💣
How to trade <<Divergence>> in the market?Hello, friends! I have prepared a very important and informative post for You. I hope you'll like it♥️
Let's talk about Divergence🧐
The word divergence comes from the Latin "divergere" - divergence, deviation. Divergence is a situation when the movement of the indicator doesn't match the movement of the price.
Usually, divergence happen when, for example, the market has reached some new levels, but the indicator cannot reach its previous values. Or, the opposite situation is possible, when the market dropped below a certain level at which it stopped earlier, while the indicator can't reach its previous value.
This situation indicates, that the latest market movement is not reliable and is not supported by a large number of participants. So, almost always, after such a breakout in the market, either a reversal or a flat, or it can be a short-term stop followed by a continuation of the trend.
There are two main types of divergence:
Bearish. When there is a higher price high with a lower high of the indicator. In this case, a down trend reversal is likely.
Bullish. When the level is a lower price low with a higher low on the indicator. In this case, we forecast a trend reversal upward.
What is the practical significance of divergence?
What is the practical significance of divergence?
In practice, it allows you to exit the market in a situation when, with long-term growth, we see the threat of a reversal. Divergence tells you exactly where this movement should start.
This allows you to enter the market on time and exit on time. This signal is so significant, that even if a trader uses only fundamental analysis and doesn't use indicators, needs to start at least one oscillator to watch the divergence.
Thus, the appearance of a divergence may indicate the end of the current movement. Usually, the appearance of a divergence may indicate the end of the price movement and a possible strong price reversal or correction.
Divergence is an important and strong signal. As with other patterns and signals, the higher timeframe, the more likely it is!
Now let's talk about classes of Divergence
Class A Divergence
The weakest type of divergence. Talking about a slow, gradual reversal.
In the case of a bearish divergence, the indicator shows a lower high at a new high on the chart. For a bullish, on the contrary - we see a new price low with a higher low on the indicator.
❌It's not recommended to open trades on such a signal; it's better to wait for additional confirmation.
Class B Divergence
The price forms a double top, while the indicator shows a lower high - that's true for a bearish divergence. For bullish - we see a double bottom on the chart and the indicator shows a higher low.
Class C Divergence
The weakest species. Usually formed in a volatile market. ❌It's better to avoid such signals.
If the price creates a higher high, and the indicator shows a double top, it's a bearish divergence C. If the chart shows a lower low, when the indicator shows a double bottom, it's a bullish divergence C.
Hidden Divergence
In addition to the types of divergence discussed above👆🏼, there is also a hidden one. It's even more effective than those listed above, although it appears quite rarely. Enter on such a signal only in the direction of the current trend.📌
If you see a lower price high with a higher high of the indicator, it is a bearish hidden divergence. It is true for a bullish to find a higher low on the chart with a lower low on the indicator.
What conclusions can we draw?
🔸The presence of a Divergence often, but not always, means a trend reversal💡
🔸Divergence is a relative signal that depends on the chart time frame, and the the type and indicators.
🔸It will not be possible to determine the ideal entry moment, therefore it is necessary to use also other indicators and patterns.
🔸This strategy works in theory on all instruments, but in practice it is suitable for those that tend to long-term trends without corrections.
If You have any questions - I'm waiting for You in the comments)
Stay in touch with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
Ripple in short term🧐Let's take a look on Ripple 😉
So cool coin, but most time unpredictable ! Let's try to tame it ..haha🤣
I leave link on my EdU <> below👇
So you can understand if Ripple often obeys the rules of technical analysis
Did You trade Ripple? If You have any questions - I'm waiting for You in the comments)
Stay in touch with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
How to use Fibo levels in trading?Hi guys, as I promised, this post is about Fibonacci Levels for YOU!🧡
Many newbies on the market, and I'm sure this post can be helpful, so must be repeated 💪
Leonardo Fibonacci is a great mathematician who lived in the XI century. The scientist deduced a number of natural numbers, which later began to bear his name.
Each number in the series was the sum of the two previous numbers: 1 + 1 = 2; 1 + 2 = 3; 2 + 3 = 5 etc.
The result is a series of numbers: 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, etc.
Fibonacci numbers have some properties:
📌Division of any number of the series into the subsequent tends to 0.618 (the golden ratio in ancient Greek and ancient Egyptian cultures);
📌dividing any number of the series by the next + 1 tends to 0.382;
📌dividing the subsequent number of the series by the previous one tends to 1.618;
📌division of the number of the series by the second number preceding it tends to 2.618.
Fibonacci numbers are often used not only in technical analysis , but also in physics, astronomy and other disciplines.💪🏻
Fibonacci levels are a tool that sets horizontal support and resistance levels on the price chart based on price movement.
It's important to understand, that Fibo levels work well when there is a trend in the market.
How to determine Fibonacci levels?
To determine Fibonacci levels, you need to find the recent significant high and low of the last price movement. When plotting levels for a downtrend, the first point should be at the maximum and the second at the minimum. For an uptrend, you need to do the opposite. Click on the low of the price swing and drag the cursor to the high. In this case, the construction of levels always occurs from left to right.
How to trade by Fibonacci levels?
The basic variant with an upward movement: we determined the minimum and maximum, set the levels, waited for a rollback, entered the market. The price continues to move - we drag the levels to a new maximum, wait for our rollback level, and enter the market.
In a downward movement, we do the same, entering a movement on a pullback.
The technical analysis usually uses the number 0.618 or 61.8%, 0.382 or 38.2%, as well as the psychological half (middle) of 50%.
✔ Very often, based on these coefficients in the technical analysis of the market, Fibonacci lines, Fibonacci levels and Fibonacci periods are built.
Fibonacci lines are built relative to significant highs / lows and represent support or resistance lines, from which they make a purchase or sale.
Fibonacci numbers - the magic of numbers that works in trading and in everyday life .
💥You can simply draw arbitrary horizontal lines on the chart, and ... oh that's mystic... they will also be worked out both in the past and in the future.💥
We can make some conclusions:
🔵Fibonacci tool draws support and resistance lines on the chart based on price movement;
🔵the Fibonacci tool is always applied on the price chart from left to right, both in the case of long positions in an uptrend, and in the case of short positions in a downtrend;
🔵the levels marked between the beginning and the end of the price movement are correction levels, they show which levels the price is likely to return to;
🔵the most common Fibonacci retracement levels are 38.2%, 50% and 61.8%, they are often used to enter the market;
🔵there are two ways to use correction levels to enter the market: aggressive (entry at each of the levels) and passive (waiting for the price to correct in the originally observed direction);
🔵It's important to note that Fibonacci levels are not a trading system, they are an additional tool that only suggests possible correction levels; it should be used only in combination with a trading system or as part of a trading system.
I hope everything was clear for You, and You found this post as helpful🙏🏻
I really wanna be useful to you, guys!
I make every post with love and it brings me extraordinary pleasure!🙏🏻
Thank you for staying with me💋
Always sincere with You🧡
Your Rocket Bomb🚀💣
New Bitcoin's update 🚀💣Hello, dear traders! Let's continue our Bitcoin's trading journey!
So far, ONLY short-term deals! Why?
It's safer this way!
Here is our long-awaited correction !!!💪 That's why I pray You day-by day <>🙏
We have already corrected by 20%.
We can notice, that we're currently seeing a downtrend dominating on the hourly chart.
The price, touching the downtrend line, bounces off it and continues to fall.
How long will the correction last?
I think that we are unlikely to go below 29,500.
Don't miss the opportunity to buy at a great price. But don't forget, that greed is the enemy of any trader.
My previous recommendations 👇
Stay with me forever💋
Thank you for staying with me🧡
Sincerely Yours Rocket Bomb🚀💣
