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RE: Why I recomend 1hour candle charts, if your a new trader..

in #trading7 years ago (edited)

Perhaps I miscommunicated my question. I am also a trader, not an investor. There are a few juicy trade opportunities I plan to take which might yield a significant ROI upon the bounce. The chart is ripe for the trade, but I'm concerned there may not be enough volume to make the trade worthwhile. Are there any key indicators you look for prior to your initial purchase to make sure there will be a buyer when your ready to sell? Lets use SNGLS/ETH on Bittrex for this example, I'm concerned there will not be a buyer when I sell after the bounce. Thnx in advance Luc!

SNGLS/ETH

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Oh, ok.. I think I know what your asking about.. I always watch time and sales to see if the order Im placing might seem too big and stick out.. You always want to blend.. but another way to decide would be to visit Cryptocurency Market Capitalizations: https://coinmarketcap.com/assets/singulardtv/#markets

Here you can see the 24hour volume and then you will know how much buying and selling there is in compairison to what your planning to spend.

Thank you, thats exactly what I was looking for!