TRX coin analysis today using Bollinger band indicator (TRX/BTC)
Hello steemian ...
As we know that the Bollinger band indicator is a tool to help traders determine when it is a good time to sell and buy to achieve maximum profit. Regarding the upper bands and lower bands, traders will be able to find market opportunities easily. The upper band indicates the market is oversold while the lower band indicates the market is overbought. This means that if the candlestick touches or breaks through the upper band, then it is the momentum to sell, on the contrary, if the candlestick touches or breaks through the lower band, then it is the momentum to buy. Based on this theory, let's apply Bollinger band analysis to the TRX market today (November 4, 2022).
As we saw in the picture above, I used the 1-day timeframe to analyze the movement of the TRON coin. Based on the results of the analysis based on Bollinger's band theory, then this is a good time to buy. Why I conclude so, is because the candlestick has already touched the lower band. As we discussed earlier that it is the right time to make a purchase.
That's all from me, I'm not forcing you to follow my lead. You can trade in your style as well as with your flagship indicators, good luck.
Thank you, friend!
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Bollinger band is one of my favorite indicator. Thanks for sharing this interesting post.
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