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This topic is very complex, but I will tell you some very basic things about the Japanese candlestick chart on Binance.
The first thing you need to do to activate it is to touch the chart button that is at the top right. Now that you can see the chart, you should take some time to review it, it doesn't matter if you don't understand it, give it some time.
You can change the time frame in which you view the chart by touching the buttons that range from one second to one month, so you can get better details about how the movement of the cryptocurrency you chose has been during that time, and keep in mind that the more time you spend reviewing the chart of a cryptocurrency, the more knowledge you will have of it and this will increase your predictive ability.
It is understood that red candles signify a selling or bearish movement and green ones signify a buying or bullish movement. Besides looking at the candles, it is important to take into account the wicks or shadows; you will see that some candles have very long wicks and this is the information you are interested in knowing: when a red candle has a long wick pointing down, it means that the selling price was rejected, which indicates a possible bullish movement to follow, and when a green candle has a long wick pointing up, it means that the buying price was also rejected, which leads to a possible bearish trend.
Although none of this holds true 100% of the time due to market reasons, you can get a clearer idea of what these candles are telling you.
Always remember that experience makes the difference and there are things you must experience in person to improve as a trader and you can start trading from one dollar.
$BTC
$DOT
$KITE
@KiuTrades #kiutrades #KiuTradesCommunity #KiuTradesAcademy #LegionKiuTrades
The first thing you need to do to activate it is to touch the chart button that is at the top right. Now that you can see the chart, you should take some time to review it, it doesn't matter if you don't understand it, give it some time.
You can change the time frame in which you view the chart by touching the buttons that range from one second to one month, so you can get better details about how the movement of the cryptocurrency you chose has been during that time, and keep in mind that the more time you spend reviewing the chart of a cryptocurrency, the more knowledge you will have of it and this will increase your predictive ability.
It is understood that red candles signify a selling or bearish movement and green ones signify a buying or bullish movement. Besides looking at the candles, it is important to take into account the wicks or shadows; you will see that some candles have very long wicks and this is the information you are interested in knowing: when a red candle has a long wick pointing down, it means that the selling price was rejected, which indicates a possible bullish movement to follow, and when a green candle has a long wick pointing up, it means that the buying price was also rejected, which leads to a possible bearish trend.
Although none of this holds true 100% of the time due to market reasons, you can get a clearer idea of what these candles are telling you.
Always remember that experience makes the difference and there are things you must experience in person to improve as a trader and you can start trading from one dollar.
$BTC
$DOT
$KITE
@KiuTrades #kiutrades #KiuTradesCommunity #KiuTradesAcademy #LegionKiuTrades
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