SMA, MACD and Stoch RSI Pattern Explanation
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My first video recorded technical analysis ever about the current (01.12.2021) situation of Bitcoin / USD and Risk Management / Risk-Reward-Ratio.
-Not part of the video-
10 Steps to success:
1) read and watch everything you find for the first few months
2) draw way too many trendlines and support/resistance zones
3) somehow price action always hits the lines but you open the wrong side because you get played by fear&greed
4) add fancy indicators nobody ever heard about and use drawing tools which make no actual sense to most
5) start to call TA "just made up lines"
6) become a fundamentalist and buy/sell news
7) hit rate becomes even worse because fear&greed played you even more
8) start to call crypto a scam
9) ???
10) profit
Extra step: Look for that holy grail bot strategy which you badly code and backtest yourself till the end of time
-Not part of the video-
10 Steps to success:
1) read and watch everything you find for the first few months
2) draw way too many trendlines and support/resistance zones
3) somehow price action always hits the lines but you open the wrong side because you get played by fear&greed
4) add fancy indicators nobody ever heard about and use drawing tools which make no actual sense to most
5) start to call TA "just made up lines"
6) become a fundamentalist and buy/sell news
7) hit rate becomes even worse because fear&greed played you even more
8) start to call crypto a scam
9) ???
10) profit
Extra step: Look for that holy grail bot strategy which you badly code and backtest yourself till the end of time
Nota
Part 2:
Nota
We broke the trendline on the log scale chart, means we switch to the linear scale for now.<deleted>
Nota
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