For Beginners: How to Decide When to Buy and Sell?
A common question! Based on my experience, here’s a simple guide using Binance desktop:
1. Select the cryptocurrency you want and maximize the chart.
2. Switch to **TradingView**.
3. Set the timeframe to **5m**.
4. Remove all existing indicators.
5. Add the **EMA (Exponential Moving Average)** indicator:
- Set its length to **20**, color to white, and line to middle thickness.
6. Add another **EMA** indicator:
- Set its length to **50**, color to blue, and line to middle thickness.
7. Add the **Moving Average** indicator:
- Set its length to **200**, color to green, thickness to maximum, and turn on the price level.
**Rules for Buying and Selling:**
1. The 200 MA (Moving Average) represents the overall trend.
2. **Buy** when the cryptocurrency price crosses **above** the 200 MA.
3. **Sell** when the price falls **below** the 200 MA.
4. Never buy if the price is below the 200 MA trendline.
This method works well for me, but always do your own analysis.
Check the snapshots and happy trading!
#xrp
#pepe
#SOL
