Spot Trading Tip: Indicators You Need 💰💵
On spot trading, the main strategy is buying low and selling high. Use indicators to identify trends and zones of oversold/overbought levels.
1. Bollinger Bands (BB):
Shows market volatility. If the price goes beyond the bands, it signals a reversal or continuation.
2. Volume:
Shows how much traders support the asset. High volume confirms the strength of a trend.
3. MACD (Moving Average Convergence Divergence):
Helps spot trend changes and confirms signals from MA and EMA.
4. Support and Resistance Levels:
Not an indicator but a crucial tool to find target buy/sell points.
5. Timeframes to Combine for Strategy:
M15: Helps find entry points within the day.
H1/H4: Shows the overall trend (uptrend or downtrend).
Best combo: Use M15 for entry/exit and H1/H4 to confirm the trend.
Technical analysis gives you data, but the decisions are yours. Don't rely 100% on numbers. Trust your gut alongside solid market analysis.
Risk-taking is good, but it's better when backed by clear data after research.
Always DYOR! Good luck! 🚀
