Friday, 5 August 2016

WHAT TO LOOK FOR WHEN ANALYZING A CHART: THE RANGE

Analyzing a chart dosent require looking at the fancy components that constitutes the chart especially if you are a newbie.

What you are to look as a basic crypto currency trader is simply the RANGE within a particular period of time.


Its a statistical tool used in finding the difference between the the highest value and the lowest value.

But in cryptos we may not necessarily need the difference . What we need is the lowest value and the highest value within a particular period of time.  Let me give  an example


Lets say within 12 hrs the price of etc was hovering between 380k sats and 450k sats.. This is the price within 12hrs right.  Now lets say you enter the market at the 15th hour and you met the price to be at say 395k sats.

As an experienced trader what you are to do first is to look at past event from the chart.

When you look at d chart then you will notice that the price attained some certain height  based on that information you can enter the market.  Because there is every likelihood that the price might still rise to that 450k sats or more again within the remaining 24hrs.



The 4 days chart above shows the price volatility of ETC with 4 days. When analyzing this chart simply locate the higest point which is about 610,000 sats and the lowest point which is about 350,000 sats.

With this information, you can make an informed decision on whether to buy into this coin or not.



11 comments:

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