What exactly do traders mean when they say "local high"
You've probably heard the term used in a sentence somewhere, for example, "I'm now looking for divergence on the one hour chart of bitcoin because a local high has been established"
Well this snap shot shows how a local high for an hourly time frame is established. The top of the wick (the highest point reached as of late) is at $13880 and soon after you see a candle trading below the low of that candle ...
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I will be adding to this post to show more examples
Well this snap shot shows how a local high for an hourly time frame is established. The top of the wick (the highest point reached as of late) is at $13880 and soon after you see a candle trading below the low of that candle ...
If you're interested in learning more, subscribe to my youtube channel : "Kick Back Time"
If I start to recieve subsbribers I will be encouraged to make instructional videos there, going into greater in depth knowledge and detail
I will be adding to this post to show more examples
Nota
...so the high candle's price ($13880) is now considered the local high according to the above 1 hour spot price chart.Nota
Nota
Traders look for local highs - and local lows -when they think a trend is coming to an end (a potential reversal is happening)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.