Trend trading strategies are easy to learn, require a minimum amount of data to make a decision to open/close an order. The cryptocurrency exchange for novice traders at first seems to be a difficult tool for making money. Therefore, experienced specialists recommend using ready-made trading strategies at first and always find out the price of bitcoin today . One of the popular options has the only requirement - you need to correctly draw support / resistance levels.
The general principle of trading is as follows:
The chart switches to the display mode of hourly candles H1;
Using the built-in tools of MetaTrader 4, a trader draws horizontal lines at all levels where the price is consolidating (look at the history, there should be at least 3-4 facts of a trend stop or reversal);
Closing the next candle above/below one of the levels is a signal to enter the market (when a condition arises, the trader needs to be at the terminal, watch the direction of the price of the next candle);
If the trend persists, you can open an order in the direction of the trend (sometimes it is advised to wait for the third candle, because the second one may turn out to be a correction, testing for a reverse breakdown).
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