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How to Avoid Bull Trap?
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[QUOTE="Flow-er, post: 236893, member: 71012"] It very important to have the necessary knowledge around the technical analysis before putting monies on cryptocurrency. The technical analysis is a very wide topic that could only be understood well by constant practice using the Trading view or the MT4. You can't actually have the knowledge needed to avoid the bull trap when you do not have the knowledge around around the crypto charts. My strategy is very simple, I don't like using the indicators, I prefer using the pure price action coupled with the candlestick patterns knowledge. I think one should be able to avoid the bull trap by identifying the market trend first. You shouldn't expect a bullish run just because you have 3 green candles sitting next to each other. If the trend is pointing to a downswing, definitely, you should know that it's a bull trap. I will also want to look at it from another angle. If the trend is in the consolidation zone, you don't have to take a trade because you have many greem candlesticks. You will have to wait till the trend escape the consolidation zone before you will predict the direction of the trend. This are the two ways that I think one could avoid the bull trap. [/QUOTE]
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