Tips Trade Forex With Binomo
How to trade Forex with Bitcoin when you’re seeing stars?
The stars on the chart illuminate profit On the candlestick chart, figures are often formed that signal changes on the market. If you know why these or other combinations appear, you can earn.
Announcement – Crypto News- No Need to Fret Over the Delayed Bitcoin ETF
Don’t understand what a candlestick chart or figures are? We wrote about this in detail in the strategy. If you missed it, you can learn it right now.
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|---|---|---|
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In candle analysis there are “Evening Star” and “Morning Star” patterns. They are widely known because they accurately indicate the time of reversal. And the “Stars” on the chart meet quite often and it’s easy to make them out. We will now teach you how.
Looking for the “Morning Star”
It is not formed in the mornings, but simply in a bearish (falling) trend: after a red candle, another one with a short body appears. The short candle can be green or red, it’s not so important. But the opening and closing should be lower than the previous one’s minimum! The larger the gap, the stronger the signal.
Following the short candle, a new long green candle will be formed. This is a signal that the quotes have reversed upwards and the price will rise. More news on Crypto Exchanges Here
To summarize: Bitcoin Forex Falling trend
A short candle appears after a long red one
The level of closing and opening of the short candle is significantly lower than that of the one before it
The short candle is followed by a long green one
Here’s what the “Morning Star” looks like:
Morningstar: bears are sleeping, bulls are earning
The morning star is a reversal figure that appears on a downward trend. It signals that bears are losing their lead to bulls. Bears are traders who trade on price decreases and bulls are on increases. They are always fighting with each other. The one who wins determines the trend movement: the chart goes up or down.The morning star consists of three candles:
a big red candle
a small green or red candle
a big green candle
The level of closing and opening of the short candle is significantly lower than that of the one before it.
Evening star: bulls are sleeping, bears are earning
The evening star is the exact opposite of morning star: it appears on an uptrend and indicates that the chart will reverse downward.
The figure also consists of three candles:
a big green candle
a small green or red candle
a big red candle
The level of closing and opening of the short candle is significantly lower than that of the one before it.
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The price is above the EMA – growing trendд
The “Evening Star” pattern has formed
The RSI intersects level 65 from top to bottom on the final and 3rd “Star” candle
Important Crypto trading recommendations
The strategy is suitable for any asset and time of day, but it is not recommended for use when the important macroeconomic news is being released.
Always test out a new strategy on the demo account until you are sure that it suits you.
Observe the rules of money management: determine your maximum profit and loss in advance, and do not enter into transactions with amounts exceeding 3-5% of your account balance!
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