As a trader you may know the famous quote by Martin Zweig which is
Trend is Your Friend
But ask your self, do you really follow the trend as a trader? I am guaranteed, only 20% of the traders will follow this rule very strictly, because most of traders don't know how to know the current trend and how to trade with trend. In this post I will explained you everything in details. Please read it and if you like then please share it with your other trader friends.
What is trend? How many type of trends in trading?
In simple words, trend means direction of the market. In trading, there are 3 types of trends which are as below.
- Up Trend: In which, coin price will make higher high, Let me make it more simple, In up trend the price will rise and go up with small dump. Basically it is known as buying opportunity.
- Down Trend: In which, coin price will make lower low and in simple words, price will fall with small jumps. Best example is, rolling a ball from top stair to downstairs. The ball will not simply roll, instead it will first fall then jump back to some level but lower then first one, and continue upto bottom. Basically it is known as selling opportunity
- Sideaways: In which, price will move in small range. Basically, this is know as no trading zone.
Checkout this image for easy understanding:
Hope you are clear now about trends, but how will you understand what is the current trend of Bitcoin? Is there any easy method to do?
Basically, No its not easy as you might think, Trend analysis needs moderate experience to catch the right opportunity of changing of trends. So how you can get that? To provide this hustle free service, We at allinonecrypto.app made exclusive product "AI Based Trend Analyzer Tool"
- What is this AI based trend analyzer tool? : AI based trend analyzer tool is the simple tool to find the current trend in any time frame of the chart. It can be 1 Day, 4 hours, 15 Mins or 5 mins. All you need to do is select the exchange, select the coin pair name, select the timeframe and bingo... you will get the current trend in result table.
- How this tool will work? : This tool is AI based tool which will collect the past data for selected exchange and coin pair, then it will start some magic calculation and apply different indicators such as Relatively Strength Index (RSI), Moving average convergence divergence (MACD), Moving Average (MA), Exponential Moving Average (EMA), Ichimoku Cloud, BB and so on. Once correct value and perfect trend found, our tool will show you result in tabular form.
- How to use this tool? : We have consider ELIF strategy, Explain me Like I'm Five. So this is really easy to use for you. Here is the link of document you can read.
- Is this paid tool? : Nope, as a free user you can use daily chart data to identify the trend, But if you wish to get shorter time frame data or longer time frame data then you need to buy premium package.
Screenshots: Here is the link of document you can read.