There are so many market indicators, and different traders have different things they pay attention to to determine the trend the market will take. Traders look out for these indicators before they place trades. As a trader, what has been your favorite indicator to look out for? and can you give a reason?
As advice, which indicator will you recommend to a new trader?
The one and only 4EMA to make support and resistance, I also look at the RSI indicator some time to check whether the token I am investing in is undervalued or overvalued. After looking at both I decide when to invest, as I wait for the right time, and I have learned this skill the hard way but I am glad that I have learned it because waiting is more crucial in trading. After getting an entry I wait for the right time to exit although that where the resistance lines come in handy.
We should not be so greedy in trading, and we should book what we can do, so I usually book at TP1 or TP2, but really it was hard for me to book early, because I always thought I should wait a little more in order to book more profit, but that's highly childish thoughts of me. Besides these two, I prefer FA, as the news, and hype in the market also tells us what we can expect, token unlocking, supply, trading volume, news etc. are some of the factors I values more and study them before making the TA.