In this chart you see a Fork that seems to work great. The touches at the lower medianline parallel are perfect...but it's a self-deception if you use the Forks this way! Don't try to fit the market into your tools, never never! And why?...because you get faked information, leading to wrong decisions, leading to bad trades and to bad losses. What you need...
This is the chart from our first episode of The Support Line! If you choose the Share button to the bottom right of the chart above (up and to the right of this writeup) you can click share and choose "Make it Mine" which will allow you to use THIS chart, and post it back on the video. You can work with us on some of this and accelerate your learning by...
Hello traders, investors, and the curious alike! This is my new series called The Support Line . To get the chart from any of The Support Line's episodes, you can scroll down to "related ideas" below the write-up and select the episode # along with its chart. It will always be there! This gives you the ability ot share it back here, and our community can...
PS—preliminary support, where substantial buying begins to provide pronounced support after a prolonged down-move. SC—selling climax, the point at which widening spread and selling pressure usually climaxes and heavy or panicky selling by the public is being absorbed by larger professional interests at or near a bottom. Often price will close well off the low in...
Hi traders! Here is an educational post for a trading setup that works on all time-frames (works really well!). The two methods you can trade this setup is: 1. Before a breakout: Once you have at least 3 points (support and resistance) levels marked, you may enter a long trade and have the stop loss placed on the first support marked. So for the case above,...
Three likely scenarios for bitcoin within the next few days. Scenario 1: To turn bullish again, bitcoin needs to break the falling resistance around 9100. This will get bitcoin out of the falling channel. Scenario 2: Bitcoin touches the resistance and crashes hard as the previous two lows. If bitcoin breaks the 6k resistance, the next stop is 4k and that would...
...So I'm glad I finally got to wipe my nose... but I'm pushing through making these video's for you guys, because I know you guys are hungry to get to mucking up your own charts with some awesome strategies!! Lets talk Accumulation & Distribution
How do we make a strategy? Get your Pencils out yall! We have to look around, take a look at the history, and see how we can capture some profit in the asset class. Its important to formulate a strategy by letting the chart show you what indicators worked historically. Some people like to use indicators like crazy and THEN backtest them. Perhaps that...
Lets get our pencils out. Lets do some drawing, lets muck up a chart and lets see what we can learn from it. What is a fib arc? How do I draw them? Why do I draw them? How should you draw your chart? ... Do you have any ideas? ... What if you don't have any ideas, and you don't know what to do? ...Calm down... pull your pencils out. Its time to start...
Hey guys, as you've seen on my previous forecasts on BTC and XRP, I've started to accumulate and increase my holdings. Besides the technicals, my bias is getting even more long biased due to the massive pessimism around inexperienced traders and overall media coverage. As you can see on the chart above, this is not the first time the world has witnessed such a...
There's not much value to be had to say exactly where the bottom is, but I want to summarize what I (and many) have done wrong in the weeks preceding this bubble burst. Still, first let's look at the bottom : From ATH to neckline was a drop of 7250; target is 100% retracement to 5.5k. From the bull trap to the bear pennant drop of $7750; target is about...
$ICX was supposed to make a bounce off the retracement lines but ended up far lower. Let's examine what happened and what I or any day trader should have done and seen. What went wrong: First off, we have the triple top formation highlighted in red boxes. This is an indication to look out for bearish reversal, and to find the trough of the triple top and...
Last week we saw a double bottom created on USDCAD 4 hour, with a decent outcome of the NFP last Friday it sent the Dollar flying against CAD. Clearly showing the double bottom pattern would have been perfect to buy once completed.
Hey, I am back with another, this time educational analysis. In this educational analysis you can see some obvious patterns in the chart, that helps you decide when to buy or sell. Simple usage of just three indicators, Volume , RSI , and MACD . At first I though, sure, how can some pattern show me the price movement.. But I was wrong. Ok, so in the time...
If majors follow the price action in 2000 we will have ...
Reason why EUR/JPY reversed earlier this week -Price was in a bullish trend - It came back into previous resistance what acted as support - RSI divergence was formed on the 1 hour chart - An Bullish confirmation candle was formed on the 1 hour chart
What is a Head And Shoulders Pattern? Head and shoulders pattern in technical analysis, shows a chart formation that predicts a bullish-to-bearish *trend reversal*. The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward...
Quick video this evening to highlight how patterns typically repeat themselves not only within one part but many pairs. Whether in crypto, forex or even in stocks. I like the acronym KISS - Keep It Simple Stupid. While my charts may look a mess, I try to keep them very simple and clean without any indicators other than price action, a few moving average and...