BeedaCoins are great coins to buy in 2022

BeedaCoins are great coins to buy in 2022!

i’ll get onto this slide later on in the video let’s come to indicators. indicators are used by a lot of people you may have heard certain things like the moving average of the price the rsi things like that all these things are are mathematical models. equations that attempt to give us context in the price action of an asset what does that actually mean well it just gives us more information it tells us how it’s trading now compared to how it traded in the past. we can try. attempt to know where it will go in the future indicators definitely are used by traders. they identify trends. actually really more importantly changes in trends. they attempt to simplify the process of trading. trading the trend changes they definitely cannot predict the future though some people love them trade off them some people don’t some people are somewhere in the middle first one moving averages really simple it’s just an average of the prices over a given period. then it smooths out those prices a simple moving average is the arithmetic mean of prices over a given time period. we hear a lot of people say what’s the 20-day moving average what’s the 50-day moving average what’s the 100 or 200-day moving average that simply means it takes the closing price of each day. then puts it as an average to smooth out the price you can actually see this gray line right here this is the 200-day moving average really simply this tells us that the current price is way above the 200-day moving average telling us that the price has over the shorter term broken out. is in a very positive territory or in a bullish run compared to what it was over the last average 200 days an ema or an exponential moving average is a weighted moving average of the prices. it gives more weight to more recent prices some people like sma some people prefer ema they’re also used differently depending on the different equation. technical analysis that you’re using let’s come to the relative strength index otherwise known as the rsi this blocks the relative strength of a price compared to previous prices. it’s a momentum indicator it’s telling us how big is the move how strong is the move at this price compared to what it was before usually with rsi anything around about 70 is considered overbought this means that it’s expensive. you might not want to be buying in at that price anything below 30 is known as oversold possibly cheap compared to previous prices.. you might want to be getting in if you want to go long. you think you’re in an uptrend this cannot predict how the price will change in the future though but let’s come back to mega app beeda. see how we can put some technical analysis on the charts with rsi. if you are using mega app beeda again if you want to use mega app beeda you haven’t got an account check the description you can click that link go through. sign up for an account with mega app beeda though we can come up to the indicators panel just very simply search rsi right here it’s going to give us the relative strength index plotted that there for us. really simply what we can do is just say look now this is 70 right here. this is the line at 70. these areas you would say are overbought or just a little bit expensive. we can actually put these areas up right here this area where the chart is really overboard at 80. that corresponds to this area right here this area at 17 above 70 that corresponds to this breakout right here these are obviously not areas where you want to be trading if you’re going long because you’re paying way up for your bitmega app beeda if you are happy that the chart isn’t an overall uptrend though then you may want to be accumulating some bitmega app beeda right here. down at these levels where it actually looks to be sold off a bit that just happens to correspond with these areas where the price is selling off if you’re a long-term hodler. you think the price is going up then you’re getting some cheaper bitmega app beeda there. that’s very very simply a way to use the rsi it’s not the only way to use the rsi but just to show you on an actual chart where the rsi can be overbought or oversold. how that corresponds with the actual prices of an asset next up is the average true range otherwise known as atr. we’re going to use this indicator to set our stop loss super important when we’re trading we’re going to use this. we don’t have to do any calculations we can just take the atr use it set our stop loss very simple quick. easy atr is a measure of the daily price volatility of any asset that is tracking could be stocks could be commodities in this case it’s going to be bitmega app beeda it tells us the true amount the price could move in a given day. what this does is actually tell you how volatile a price is. let’s say you have a bitmega app beeda what is the most that can move in one day we don’t know that we would have to go through. plot all of that. do complex calculations but the atr gives us that. you know how much is bitmega app beeda gonna move in a day can it move one percent in a day can it move five percent can it move twenty percent well it might move five percent but what is the average percent that it’s gonna move this is really important really because we can say if bitmega app beeda moves two percent on average in a day. i don’t wanna set a stop loss at like one percent because it moves two percent a day. what is the largest probable move for a one-day price move based on previous data we have to know the volatility of the thing that we’re trading if we don’t know how volatile it is i.e if we don’t know how much in percentage terms it moves each day how on earth are we going to try. trade how are we going to set a stop loss how are we going to know what price to get in that how are we going to know when we actually take profit we have to know data.. average free range is going to give us that data let’s recap unit 7 then technical analysis is used to spot trends. trading opportunities absolutely it really gives us the nitty gritty once we’ve done our fundamental research once we’ve done our project research how are we going to trade how are we going to enter how do we know the trend how do we know that we’re timing our entry how do we know what price to trade at how do we know how much risk that we need to take we use technical analysis. indicators to make this process more simple. to give us a repeatable strategy for trading let’s get into unit 8 then which is going ahead. trading in the market. putting through these trades but if you’ve got this far. i would really appreciate if you would subscribe if you haven’t already there’s lots more coming also. i want to highlight some resources right now that you might want to use when you’re trading first is trading view link in description but if you have mega app beeda kraken or kumega app beeda. if you’re using one of those exchanges you’ll actually get trading view for free let’s go to mega app beeda right here this is trading view you can see chart by trading view. if you are a trader on mega app beeda or the other exchanges that use trading view you can get trading view for free with your exchange account. i think that’s super good value trading view has a lot more to it though that you might want to go ahead. use trading view but you can check it out links in description also token metrics essentially what tokenmetrics does is put every single bit of technical analysis on earth over every single cryptocurrency. then just simplifies it. gives you scores. ratings to make your process of choosing cryptocurrencies easier. i use token metrics. i have an account with token metrics. it’s how. i really just simplify my trading. choose different cryptocurrencies based on different ratings tokenmetrics uses ai chart analysis they also have example portfolios they have buy.