About this image :-
In this chart you can see a chart pattern form on bitcoin chart and than consolidate some time and than make a triangle like pattern and than breakout is form in upper side and than hit target but in this post learn how to analysis chart pattern. Welcome to this post keep learning and careful learning.
Which pattern is good for Bitcoin Trading :-
The answer is every pattern is good for any trading but There are a logic and the logic is which pattern is good for you so finally you focus on your practice and see your result you practice on every pattern and than count your result and than see which one is good result. This way you can choose which pattern is good for bitcoin trading.
How to draw a support :-
If you want to draw a support than first to first you open chart and than see on bottom side and than find a place where price reached a lot of time at least minimum 2 to 3 times and than draw a zone like you can see this image here similar to need focus with you. This way you can draw a support.
How to draw a resistance :-
If you want to draw a resistance than first to first open the chart and than see in upper side and than find a place where price reached a lot of time at least minimum 2 to 3 times and than draw a zone like you can see the post image and than test your resistance if respect the price your resistance than you can trade with the help of resistance. This way you can draw a resistance.
How to start chart analysis :-
Do you want to start chart analysis than first to first draw support and resistance and than when you draw support and resistance than see chart properly and find which type of shape like triangle, box, flag, etc. if shape is like triangle than you make a path and focus it. This way you can start chart analysis.
What is chart pattern :-
The answer is chart pattern simple meaning is a pattern which form on chart and than according to pattern form chart and we can easily identify what happen after some in future so don’t need to focus on what is chart pattern you need to focus on the chart pattern. You need to learn chart pattern in trading.
How trade using this pattern :-
This is a very simple pattern but if you have to need practice so focus on practice than this pattern is verry simple and when resistance breakout is form than wait al least 2 green candle because don’t trade on first breakout may be it is false breakout and than when two green candle is form than measure its stop loss and than you can trade using this pattern.
What is Stop loss in trading :-
The stop loss is very complex term so some paragraph we can’t learn what is stop loss but we know that in trading some profit and also some loss is part of trading but we need to measure and maintain stop loss when we take any trade than first measure our stop loss and if it is our range than we can trade otherwise we can skip this trade because our capital is important. I try to write a post for stop loss next time.
Learning of this post :-
There are lots of learning in this post but we need to learn first to first which pattern is good for me and than learn how to draw support and resistance and than we need to learn what is chart pattern and also need to learn what is price action and how to work our price action than we need to learn how to trade in any pattern but before take any trade we need to learn what is stop loss and how to manage it. These all things of the learning of this post.
