I have to post this apparently...
Updated
Not that it will make a difference with 90% people...
At least it gives me some practice. Always good.
No point for me writting a large textwall explaining everything simply, those that need this do not read it or understand it anyway.
I am not a trend expert. I am not a trend trader. I find it simpler to find reversal points at support at the end of corrections and typically miss the meat of the moves.
Some people do this, most (successful) follow the trend, whatever works for you is good. What you have ease doing.
But I think I am qualified enough to explain what a trend is. Plus I study them all the time to try and figure out where the pullback ends.
Let me make a few drawings a 5 years old can understand:
Now, let me take this 1 step up, making it a little harder, but still with a simple drawing even the people raging at me can understand.
Now, I will make it slightly harder once again.
Let's take it one step further. If anyone is having difficulties, start back at point 1.
Now, to the next lesson, lets combine the 2:
Putting it all together:
There are exceptions:
Some practical exercises:
Are you biased? Or are you not?
Trends are easy, corrections are hard.
Only 1 type of trend. 21 types of corrections.
Can look like this:
Or like this:
Or like this:
Not like this, it cannot look like this:
Or like this:
At least it gives me some practice. Always good.
No point for me writting a large textwall explaining everything simply, those that need this do not read it or understand it anyway.
I am not a trend expert. I am not a trend trader. I find it simpler to find reversal points at support at the end of corrections and typically miss the meat of the moves.
Some people do this, most (successful) follow the trend, whatever works for you is good. What you have ease doing.
But I think I am qualified enough to explain what a trend is. Plus I study them all the time to try and figure out where the pullback ends.
Let me make a few drawings a 5 years old can understand:
Now, let me take this 1 step up, making it a little harder, but still with a simple drawing even the people raging at me can understand.
Now, I will make it slightly harder once again.
Let's take it one step further. If anyone is having difficulties, start back at point 1.
Now, to the next lesson, lets combine the 2:
Putting it all together:
There are exceptions:
Some practical exercises:
Are you biased? Or are you not?
Trends are easy, corrections are hard.
Only 1 type of trend. 21 types of corrections.
Can look like this:
Or like this:
Or like this:
Not like this, it cannot look like this:
Or like this:
Note
I was surprised this idea got so many views and then I realised "oh it's a bitcoin post nevermind".Looks like the bull market is back with Tesla.
Rince & repeat...
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