A trader starts live trading Matic, analyzing its momentum and resistance levels. They enter a short trade after seeing a candle close below a level, with marked take profits and a break-even stop loss. The trade hits the first take profit before stopping out with a profit of 1.5 k.

Trading Matic live: Analyzing market trends for profitable trades

As traders, we always look for the best opportunities to make a profit in the market. Today, we’re focusing on Matic and how to make profitable trades by analyzing market trends. In this article, we’ll go through step by step on how to analyze the market and make successful trades.

Starting with the four-hour chart

When analyzing a market, it’s important to start with a higher timeframe chart to identify key levels of support and resistance. In this case, we’re trading Matic and starting with the four-hours chart to identify key levels.

We observe prices below resistance, which is an indication of a potential downward trend. However, it’s not enough to make a trade based on this observation alone. In this market, the momentum is getting weaker, which tells us that it’s not likely to continue in the downward trend direction.

Taking a closer look at the three-minute chart

To get a better understanding, we need to look at a closer timeframe chart to see if there are any signs of a potential trade opportunity. This is where we jump into the three-minute chart. We can see that prices are still under the level we identified earlier, but it’s not a strong indication for a trade.

Identifying trade entry and exit points

To enter a trade, we need to see a candle close below the next level. Once we’ve identified that, we can enter the trade with set-up stop loss and take-profit levels. It’s essential to have both stop loss and take-profit levels marked to mitigate risks and maximize profits.

Executing the trade and managing the risk

Once we’ve executed the trade, we need to wait for the price to move in the expected direction. In this case, we’ve hit our first take-profit level and adjusted our stop loss accordingly. The trade is now in a risk-free position, and all we need to do is wait and see if the price continues in the desired direction.

Closing the trade with a profit of 1.5k

After having managed the trade according to our plan, the price has moved in the desired direction, and we’ve hit our final take-profit level. This trading strategy has provided us with a profit of 1.5k. We can close the trade with satisfaction knowing that we’ve followed our plan and executed a profitable trade.

Conclusion

Trading Matic, like any other asset, requires careful analysis and trading strategy management. By starting with a higher timeframe chart, we can identify key levels of support and resistance and potential trade opportunities. Moving to a lower timeframe allows us to fine-tune our entry and exit points, minimizing risks and maximizing profits.

In summary, analyzing market trends, identifying entry and exit points, and managing risks are essential for successful trading. We hope this article has provided you with valuable insights into trading Matic and profitable trades. Happy trading!

Choose The Best Forex Broker