RE: Steemit Crypto Academy Contest / S4W1 - Crypto Market Technical Analysis by @huzaifanaveed1
Technical Analysis helps us in trying to get good profits while trading.
Yeah this very true, but in a case where trader has lesser knowledge on technical analysis, he/she can be in great loss despite analyzing with technicality.
When you open a chart, you can analyze the market through determining the support and resistance levels.
Support and Resistance levels are important points in technical analysis as it marks strong point of reversal trend.
you also have to keep in mind that you should never make your trading decisions based solely on the analysis of a single Technical Indicator.
Yeah that true, indicators are very effective but not 100% perfect and so can some times give false signal. We should always combine them to filter out this mess false signals.
MA is one of your favorite indicators, I do also use this a lot with the cross strategy. I see you called it golden and death cross.
Please find time to visit my post as well. Good luck!!