Crypto Trading #18 – The 4 Most Important Parts of a Price Chart

Hello, everyone, this is JB Trader and welcome to Crypto Trading. Right now on my screen I have pulled up the Bitcoin Futures chart for January 2018 and in case you’re not familiar with a price chart and the basic data points to look for, I’m going to point them out.

This is a Bitcoin Futures January chart. In the upper left-hand corner is the symbol you often hear of the term ticker symbol, it’s just a previous form of whatever product that you looking at. So BTCF 2018 is what’s in my box and I’m on tradingview.com.

So the symbols right here, I can change this you know if I just delete this for trading you can look at stocks futures Forex you know Cryptocurrency is right here so if I want to look at a stock I can pull up an Apple chart

So now I’m looking at a stock chart for Apple if I want to look at some Forex, I go to the forks category and this is the Euro Dollar. Now I’m in a foreign currency pair which is the Euro Dollar. Here’s the chart so I can switch this to anything alright Cryptocurrency, share what you look at Ethereum, Ethereum chart is upon coin base there you go.

So a lot of different asset classes which are great for trading you, it’s a free website you can use to look at the chart so I’m going to go back to Bitcoin. Let’s go to the Bitcoin chart right here. Now over to the ticker symbol is 1D, 1D if you hover over it stands for one day and that means that these candlesticks, each candlestick represents one day, this is called your time frame.

So this candlestick, if you look on the bottom, says on January 22nd that’s today, the candlestick before that January 21st and so on and so forth that’s the 20th, then 19th, and the 18th.

Now I can change this if I click on it, I can change this to a week, 1w means one week so each candlestick on this chart represents one week of time. So I hover on the candlestick before the current one, that’s January 15th.  This one is January 22nd so it’s the date of the week start is what it’s going off.

Alright I can go to like a one minute it’s called a 1-minute chart when you hear that term that’s what it means each candlestick is one minute in time like putting something under a microscope and you want to see every little bit of price movement within a larger time frame candle so this is one minute, it was like a minute ago, 2 minutes ago and so forth and that’s really cool one minute typically for like day traders know scalpers.

Okay, so I’m going to change this back to a daily and another mean point that is important to remember with there a price chart is just the whole setup of it. Over to your right you see all these numbers, this is price so you going to have what’s called like a price access over a time access so with the chart I can change the chart to any symbol I want any asset class I want to any time frame I want but no matter what I have on the chart it’s always going to be a view as price overtime.

For example, if I am on the current daily candlesticks for the Bitcoin Dollar Currency pair right here you know the current price should be 10380 today, yesterday the price opened at 12755 and that was yesterday so each candle you see this cross right here where my mouse is going. It’s going to pop on each day and I can move anywhere on the charts for each day price over time

So those are the main things you want to look for in a price chart and I’ll just get online trading if you don’t have access to any other types of platforms right now and just play around with it, test it out, practice, switching the symbols. I’ll click on this one future yeah practice changing your time frames monthly and then practice just kind of moving all around on the chart and understanding how to get to price over time.

Okay so follow me on Twitter: JB Trader and I’ll give some shutouts as to different support and resistance levels on Bitcoin and other Cryptocurrencies and if you have any comments, if anything you’re requesting for me to take a look at just leave the comments down below and check out my next video coming up.

I’m going to go into a bit more detail with candlesticks and how to read a candlestick and how to get the main data points on the candlestick. Alright, thanks for watching and I’ll see you next time.

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