$BEAT In the cryptocurrency market, many people prefer to focus on the 1-minute candlestick chart, with their heart rate fluctuating with the rise and fall of the candlesticks, resulting in missed opportunities and repeated 'education' by the market.
$PIPPIN The problem lies in being overly reliant on short-term fluctuations, only looking at a single time frame. Adjust your strategy to combine multiple time frames for a wiser approach.
$FOLKS 4 Hourly candlestick chart: Grasp the major trend.
The 4-hour candlestick chart can help filter out short-term fluctuations and clarify the major trend.
Uptrend: Highs and lows gradually rise, buy on pullbacks.
Downtrend: Highs and lows gradually lower, sell on rebounds.
Consolidation: Prices oscillate within a range, not suitable for frequent trading.
Remember, following the trend is key to profit, while going against it often results in losses.
1-hour candlestick chart: Identify key areas.
Use the 1-hour candlestick chart to find support and resistance, locking in entry points.
Trend lines, moving averages, or previous lows may present good entry opportunities.
When nearing previous highs or significant resistance, consider taking profits or reducing positions.
15-minute candlestick chart: Precise entry timing.
Look for specific entry timing on the 15-minute candlestick chart.
Wait for reversal signals on small time frames (e.g., engulfing patterns, bullish divergence, golden crosses) to determine the best entry points.
Accompanied by increased trading volume in breakouts, this is more reliable, avoiding false signals.
Multi-timeframe collaborative trading.
Determine direction: 4-hour chart confirms main trend for going long or short.
Find areas: 1-hour chart locks in support or resistance.
Entry timing: 15-minute chart waits for reversal signals.
Key reminders.
When multi-timeframe signals conflict, choose to stay out and observe, do not trade blindly.
Small time frame fluctuations are intense, always set stop losses to avoid being swept.
The perfect combination of trend, position, and timing is more effective than obsessively watching candlesticks.
Master these techniques, patiently summarize, and you will find trading becomes more intuitive.
