Cryptocurrency Q&A
How do you trade ZigZag?
How do you trade ZigZag?
CryptoQueen
Sat Jul 27 2024
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7 answers
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So, I've heard about this ZigZag trading strategy and I'm curious to know more about it. Could you walk me through the basics of how you go about trading with ZigZag? What kind of indicators or tools do you use in conjunction with it? And are there any specific rules or guidelines you follow when executing trades with this approach? I'd love to hear your insights and any tips you might have for someone who's just starting out with ZigZag trading.
7 answers
PulseRider
Mon Jul 29 2024
Once the starting point is established, the next step involves determining the minimum percentage of price movement that qualifies as significant. This percentage threshold varies based on individual preferences and market conditions.
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CryptoWanderer
Mon Jul 29 2024
With the starting point and percentage threshold in place, the indicator searches for new highs and lows that exceed the initial swing point by the predetermined percentage.
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Rosalia
Mon Jul 29 2024
Upon finding these new highs and lows, the ZigZag indicator connects them with trendlines, effectively filtering out the less significant price movements.
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Filippo
Mon Jul 29 2024
The process of identifying new highs and lows, drawing trendlines, and ignoring smaller fluctuations continues in an iterative manner.
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Giulia
Mon Jul 29 2024
The ZigZag indicator operates by identifying significant price movements within a market, disregarding smaller fluctuations. Users begin by selecting their preferred swing high or swing low as a starting point.
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