For those wondering how to determine entry and exit points in trades. Read the article carefully and like, follow, and share the post, and let us know your opinion in the comments and your notes. So that we can benefit and help each other as a community.
Determine the entry point first -
Before entering a buy trade in a currency other than Bitcoin, you must first take an analytical look at Bitcoin's movement. This is the first important point that most losers in trades ignore, and I have made this mistake myself.
If Bitcoin is in an uptrend, the rest of the currencies will follow, even slightly. And vice versa.
Also, the second point is to know the support and resistance for Bitcoin as well, and God willing, we will write an article about it in detail if we find interaction.....
The entry is always above strong support with a matching engulfing or inverted candle, and the MACD lines are close or there is a positive crossover. With the SRI indicator above 50.
As for exiting, it is also when touching significant resistance or just below it to secure your profit, or if you see indicators trending upward and breaking the nearest resistance and closing an hour or four-hour candle above it, you can secure half of your profit and continue with the rest.
A very important point, which is greed. Beware of greed as it is the biggest cause of loss.
These are the most important setups that I have actually tried and succeeded.
I hope I have conveyed the idea correctly
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