Hello everyone, I am the Golden God of Wealth. I will explain in detail while combining real-time trading, and I have carefully organized good K-line basic knowledge for beginners, as well as some possible trading suggestions, so please be sure to watch patiently~
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This issue is a comprehensive explanation of naked K series regarding completely naked candles. Like and bookmark this article, and I will help you easily analyze the market!
Below is the recent hottest XRP 1-hour real-time analysis 👇
We have identified 3 completely naked candles (special candles), marked as 1, 2, 3.
Step ①: Determine the overall trend, is it sideways, rising, or falling?
It’s not hard to notice that the current overall price level is wrapped by a long red candle, which means it is in a 'sideways state', where bulls and bears are constantly consuming and competing.
At the same time, it can be found that during the period of December 4, there was an attempt to break through the opening price of the first completely naked candle, which failed.
Step ②: Since it is sideways, what pressure levels are constraining it?
1 The overall sideways range falls within the breakout of the long red candle, wrapped by it.
2 Local small range pressure, established through some special candles:
Observe the K-line, draw a horizontal line that can touch as many points as possible, representing that this price level has been tested at multiple points, forming pressure, which is the 'closing price of line 2' (draw a horizontal line at its closing price, and you will find that many subsequent points accurately fall at this price level, proving that this special price level has pressure) and 'opening price of line 3'.
The area between these two price levels is a minor pressure zone within our oscillation range.
3 Drawing lines requires constant experimentation, principle: Many points form a line.
Possible trading suggestions:
Sideways observation: The pressure from the short position is high due to the breakout of a strong red candle, and combined with the chip distribution function, we can also see that the pressure level is located at the 1 point.
Long position: Wait for the breakout of a strong green candle in the 2-3 range before placing a long order, and set your own take profit and stop loss.
Short position: Place a short order after hitting the 1 point, profit from the oscillating market, and set your own take profit and stop loss.
⚠ Note: The above trading suggestions do not constitute investment advice and do not recommend any cryptocurrencies. Investors should trade rationally within their capabilities!
I am the Golden God of Wealth, determining the universe #xrp新纪元