The most profitable 'foolproof method' for trading cryptocurrencies: price action!
Many people enter the crypto world and get confused by various indicators, formulas, and flashy strategies, resulting in: charts filled with lines, making it hard to understand.
The more they analyze, the more chaotic it becomes, leading to a collapse in mindset.
The more they trade, the worse the losses!
And what about me? I rely on the 'foolish' method: price action trading! It's incredibly simple, yet it allows me to capture significant price movements time and again.
Why is price action so powerful?
Because it has 6 'extreme' advantages:
1. Simple to operate; beginners can understand it at a glance.
2. No need to add any indicators.
3. Trading is easy, requiring no mental effort.
4. No psychological burden.
5. Saves a lot of time.
6. Most importantly: it really can make money!
In simple terms, price action is about returning to the essentials; you don't need to get tangled up in 'why the market behaves this way,' you just need to focus on 'what might happen next.'
What does price action actually look at? It's a 'naked chart' with no indicators, only price and candlesticks. The key information consists of these few points:
1. Market structure
2. Support and resistance
3. Trend / Range / Channel
4. Candlestick patterns
5. Breakouts and false breakouts
That's enough!
For example: when the price repeatedly bounces off a certain support level, when it reaches support again, you can basically set up an ambush in advance and wait for the rebound to profit.
This is not metaphysics; it's a pattern that emerges repeatedly due to mass psychology driving the market!
How does price action make money? For instance, if I notice a downward trend where the price rebounds at a weekly resistance level and then makes a 'lower high.'
No need to think too much; this is the simplest and clearest sell signal; just short into it! While many are still entangled with indicators, I have successfully captured the significant price movements.
Price action is not a rigid formula but a way of thinking that helps you **understand the 'language' of the market**.
Different people use it, and methods may vary, but the core remains the same: find the recurring price patterns and seize the next fluctuation!
You will find: the turning points of major market trends are actually already written on the candlestick chart!
I have relied on it, going from frequently facing liquidation as a small trader to steadily making profits.
Price action is the starting point for your wealth!
$MEMEFI
