1. Explain what is the meaning of the Green and Red candle and how to read the Green and Red candle, with candles image.(Screenshot Needed)

Answer

screenshot from binance
A green candle signifies that the market closed higher than it opeed, for that period in time. The wicks above and below indicate the highest and lowest price levels of the market since it opened. In every candle there is an OPEN, a CLOSE, a HIGH, and a LOW.

The difference between a red (bearish) candle and a green(bullish) candle, is that in the red candle, the close is below the on, but it is the other way round in green candles.

2. Explain with Candle Chart, what are the time frames available that we can set into the chart, and why it needs to change the candle time frame? (Screenshot Needed)

Answer

4-hour timeframe

Different types of traders require different timeframes to work, so on charts (I use tradingview), There are different time frames for you. They range from 30 seconds to one year. Each timeframe means the difference in time from the open, to the close of each candle. A scalper will use the 5 - 30 minutes time frame, a day trader will use the 30 minutes to 1hr time frame, while swingers use mostly D1 and H4.

3. Show any particular asset candle chart in a different time frame and explain in short what you see in the chart, like which trend we see, what are the price levels. (Screenshot Needed)

BTC/USDT 3-minutes

The market is in an uptrend, and after some strong bullish movers, its consolidating. a support and resistance has been formed, and the chart seems to want to cool off some steam then continue the buy.

BTC/USDT 4-hr

This timeframe give a more comprehensive look at the chart and behaviours around. The market is seriously bullish and no resistance in sight yet, unless we take the current all-time high, as resistance level. The market however is still generally strongly bullish.

4. What type of traders available in the market, explain how they work?

There are 3 types of traders :

Scalpers; These traders trade using short timeframes. Their trades usually last from a few minutes to about 1 hour.

Day traders; These traders use the hourly, 2 or 4-hour timeframe, and most of them close their trades within the day or a few days

Swing Traders; These ones use the 4Hour, daily, weekly or even monthly timeframes. They hold trades from at least a day, to some years.

5 & 6. In trading or investing in assets, what is the importance of Support and Resistance, explain how they work? How we can find the Support in the candle chart, explain with one of the asset Candle charts with screenshot and point the levels. (Screenshot Needed)

Support zones are zones in which sellers start losing their momentum, and buyers place their orders, so as to buy the market in case it dips to that level. Due to this, price bounces back upwards, when it hits the support zone. To identify a support zone, looking at the chart, look for a price-level, that seemed to bounce the price upwards when the price hit the level. The more times the zone was tested, the stronger the zone. There is usually a lot of traffic at this level, if you back trace.

Resistance zones are zones where buyers start leaving the market, and the pressure to sell starts mounting. sellers place their sell orders, in case the price buys up to that level. Most times when you see this zone, there are sharp angles formed at the area, if you back trace. As usual, the more times tested and the more traffic around those areas, give more confirmation on whether it is a support zone or not.

These zones are usually more prominent in a sideways trend.

support and resistance on TRX/USDT, 4-HR

7. After finding Support, when and where we need to place a buy order, explain with a chart screenshot? (Screenshot Needed)

As exciting as it may sound, placing a buy order at support level is not advisable, because the market could break out, and the trend changes. instead, wait for the bounce, then buy, as indicated in the image below. This will not always buy, so a stop loss has to be in place, but this is the safest point, I think buyers should enter.

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