Crypto Academy Week 4 Homework Post for @stream4u by @ghostfacer99

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Hello Steemians,

I am very happy to be part of the Steemit Crypto Academy and a student of @stream4u. I am learning very useful trading tips which are helping me in my trading journey. A big thank you to the steemit team (@steemcurator01 & @steemcurator02) for creating such a wonderful program & running to educate us all about crypto trading and to @stream4u for his lectures.

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# What Is The Meaning Of Support Can Become Resistance & Resistance Become Support, When and Where set Buy trade, Chart Example?

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As we all know Support is the level from there it is likely to reverse its trend and go up. It this very important to notice this point in any chart for any trader to grab a great opportunity for a good uptrend.

Like the Support, Resistance is the level from wherein it is likely to reverse its trend and come down. It this very important to notice this point in any chart for any trader to avoid any loss or exit the existing trade with a profit before it changes its direction and comes down.

Support can become a Resistance & a Resistance can become a new Support at any time. It is also very important to look for these points.

Like @stream4u has mentioned, Support is not always Support. In a bearish market, Support can act as a Resistance at any point in time. The previous Support will now act as a new Resistance from wherein it is likely to come down a create a new downtrend.

Same way, Resistance is not always a Resistance Level. In a bullish market, Resistance can act as a Support at any point in time. Wherein the last Resistance will act as a new Support for a new uptrend.

Example of Support Can Become Resistance & Resistance Become Support

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# What Is A Technical Indicator? (You can explore it as much as you can, like explain its role, show anyone technical indicator from your chart and name of that Indicator.?)

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Technical Indicators are very important in Investment. Based on these Indicators we take our trade. These Indicators indicates a specific sign to us to enter into any trade, that may a buy trade or a sell. If we do not follow these Indicators and just enter into any trade, we would not know how the market or any specific coin is performing and wherein it is going and we may end up with a loss.

With a proper chat and some tools, these Indicators are very specific and effective & can give us an accurate sign/indication to enter or exit any trade. So every trader needs to understand the Technical Concept of Trading and make use of Technical Indicators.

Technical Indicators on TradingView

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There are a lot of Technical Indicators available on charts. We can not go with them all. We have to choose a few and apply those on our chart and monitor how they are working and are they helpful for us to understand market movement and are they successful? Not everyone will understand each indicator, So we have to find a perfect Indicator that we can understand and work for us.

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# Provide your view and explore TradingView.

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I am 100% with the professor here, we may all not aware of Trading View but is one of the best Charting Platform in the world with various tools, clean and beautiful GUI. You will almost find everything here to trade along with the news, user reviews from around the world.

~TradingView~

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TradingView is a charting platform that provides real-time charts from all over the world which includes stocks markets, forex market, & even a crypto market under one platform.

~Various tools, features, chart settings available on TradingView~

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As we all know, in the crypto market, every broker has different price fluctuations. We find a slight difference in the coin price in every crypto exchange. Here, we have all those crypto exchanges under one roof and we can go with whichever we want.

~Special section for each market/instruments on TradingView~

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We can Sign Up for free and use most of the features without any cost. We can create watchlists, apply indicators, draw anything we want on a live chart for future reference and save. There are a lot of features to explore on this wonderful platform.

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# What is the 200 Moving Average, how and when we can trade/invest with the help of the 200 Moving Average? Show different price reactions towards 200 Moving Average.

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As mentioned by @stream4u, the 200 Moving Average is one of the very strong indicators in trading. It is mostly used for long-term investments. This can give valuable information for a long-term investment. As its name indicates 200 days average, it calculates 200 days movements and predicts the upcoming movement in any asset. It works well only on one day's candle. If we use this indicator in any other candle, like with 30 mins, then it will consider the last 200 hundred 30 minutes candle and show you the result.

Example of 200 Moving Average (green line)

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The 200 Moving Average indicator is just a line that shows the average closing price for the last 200 days of a particular selected asset.

If we see any asset price is reaching towards the 200 Moving Average from below, then there are only 2 points, either it will cross the 200 Moving Average line and go up or it will again go down.

The same possibility the price is reaching from above either it will cross the 200 Moving Average line and go down or it will again up again.

We can say that The 200 Moving Average also works as a strong Support if the price is coming down & it also works as Resistance if the price is going up near it.

Example of 200 Moving Average working a Support or price bouncing back

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It is generally used to identify a trend of the asset. If we see the price is fluctuating above the 200 Moving Average line, it is considered to be in an uptrend and we can consider it for a buy trade.

Uptrend following the 200 MA

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But the price is below the 200 Moving Average line, then it is considered to be in a downtrend as it has not yet crossed it's 200 Moving Average line & buy trade can be ignored. As mentioned earlier, this is only applicable for a long trade.

Downtrend following the 200 MA

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Thank you for reviewing my post and for your valuable time. My post & comments are set to power up to 100%. Your contribution would be very much appreciated.

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Thank you!
@ghostfacer99
Member: Steeming India Community