Many people repeatedly lose money in the cryptocurrency market, not because they cannot read candlestick charts, but because they only focus on one timeframe while gambling. If the direction is not clear, no matter how many operations you perform, it's all for nothing. $PTB
I have always used a multi-timeframe approach to trading, and the idea is very simple: first determine the direction, then find the position, and only then enter the market.
The direction is only based on the larger timeframe.
The 4-hour chart is the trend map; when highs and lows are rising together, only consider going long; if it’s continuously declining, don’t go against the trend. Sideways markets are the easiest to be repeatedly harvested, so it’s better not to trade at all.
After determining the direction, look at the 1-hour chart to find the position.
Pullbacks in the trend, previous highs and lows, and areas near moving averages are the ones worth paying attention to; if it’s not there yet, be patient and wait.
When actually placing an order, only look at the 15-minute chart.
At key price levels, if there is a small-level reversal and volume confirmation, then take action; if there’s no signal, let it go.
If the directions across several timeframes are inconsistent, I go directly to cash.
Small timeframes must always have stop-losses, otherwise it’s easy to be repeatedly shaken out.
Aligning trend, position, and timing, trading will naturally be easier.
This multi-timeframe candlestick strategy is the foundation for my stability in surviving, and it determines whether you can reach your first million.
