QUICK AND EASY WAY TO MAKE A CHART (GAPS) - PLTRIF your an advanced trader and good at charting, you likely won't find this information useful. In the future, I'll have more educational posts that go in depth, but this one is for the newbies.
STEP 1 - Find your gaps (circled in blue) ONLY MARK GAPS THAT HAVE YET TO CLOSE
STEP 2 - MARK your GAPS with a Horizontal Line (alt + h)
STEP 3 - DUPLICATE your Horizontal lines (CTRL + CLICK each line while holding ctrl to multi select lines, CTRL + SHIFT + CLICK AND DRAG to duplicate)
STEP 4 - These are now your long term trading zones (COLOR Lines accordingly, TIP - Try not to pick colors that blend together) red and green do not mean buy/sell, they mean top of the gap, and bottom of the gap, 4.22% or so... It doesn't need to be exact.
STEP 5 - Line thickness (IF multiple lines stack up, you can create a thick line to simplify chart. KEEP IT SIMPLE, REMEMBER, this is not to be exact, this is to create zones to prepare you for future movements based on past gaps)
Why is this useful? Well, if you know a price gap is statistically likely to close, then you can be pretty certain that at some point in the future, that gap will close, meaning price will return to @ or above the price gap.
With this in mind, you can plan ahead and start to realize when your emotions are getting the best of you.
This is also great because you can do this on any time frame with candles.
Why ISNT this useful? Well, this gives you no indication of timing. Past results don't guarantee future results. AND this gives you no indication of current price action. In other words, a GAP could form and close 2 years later, and the entire time before it closes, price keeps going lower and lower.
Good luck, and remember, this is just a quick and easy way for newer users to identify potential price targets, while limiting emotion in decision making.
Charting
53000+ if we sustain above neckline!Banking stocks had been outperformers in 2023 but has been laggard until now in 2024! Things are about to turn around in coming week if we sustain above 48400 which is a "Neckline of an ascending triangle" formed on weekly charts of Bank Nifty. Indicators like RSI has already shown signs of a new rally by internal crossover last week. Target which will be activated would be 53000+ while stop loss at 47300.
Holy Crap! Frontrow is gonna make people wealthy!I zoomed out on the daily just to show you how far this token has dropped and in my opinion when you find a bottomed out project like this and you see the volume increasing like that?? you have something you really need to pay attention to! frontrow! FRR!
Btc Correction still here We're still in the middle of this fall oput from the descending Triangle
The Price Target for that Decscending Triangle Landing on the 200 day moving average seems to be to coincidental to not play out. With technical analysis i like to see my indicators and charting patterns play into each other so i feel i'm reading a story and right now btc say's the bulls are exhausted after trucking from 15,000. They're still here, as the fight is strong. We should expect to touch the 200 day moving average line and bounce right back into going to previous all time highs. We've been patient as btc was the same price we're at right now 2 years ago which is a good indication we're about to start having some price action. Hang in there guys the red isn't over yet but when it is we're gonna see some real price movement!
Btc At Neckline of Decending Triangle Excepting Big Bear Move We've been projecting btc to correct to at least the 200day moving average
ema 12 crossed the signal line and i'm expecting EMA 26 to do the same causing btc to break through this neckline!
Be Careful Bulls. We see you on the weekly and know you're there, the bears just have one last push it seems!
Perp Forming Head and Shoulders on Day(Bear)While I've Done Very Well with Longing Perp and have Longer Term Price Targets Above $20 I see a Correction on the Daily coming For Sure.
We have a Huge Head and Shoulders Forming With THE MACD Calling a Sell Signal During the Formation of the Right Shoulder, These are big warning Sign
Don't Let Volume Fool You This is Typical To Head and Shoulders as Sellers are Showing Up in the Right Shoulder here
btc cup and handle inside cup and handle major and minor (1d)it's cool when this stuff happens
even cooler being able to see it
major and minor trends coinciding into one big move
Bullish on ioi - usdtThis fib looking good on the daily
Just had a 50 & 200 ma cross recently
Ranging here around the .5 fib which is a lovely fib to see the highest response to!
The Power of Standard Deviation (STDEV)Hello everyone,
This morning was a great chance to show the power of using Standard Deviation (STDEV)
for targets.
I usually put it on the London session. That's what I've done here.
As you can see, the levels are almost identical to the ones marked using market structure.
This is another useful advanced tool that can add to your arsenal to help bring your trading to the next level.
This is very easy to use, and you can use the FIB tool with these levels to make your own STDEV tool.
I hope you found this insightful and useful.
Happy Holidays!
A Near term reversal on USD indexWith the possible holding rate for USD, and poor nfp data, seems like USD is taking a turn....
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
Just look at this beautiful chart.
I see massive bullish potential. A lot of profit potential. A lot of open interest on some of the calls. It is looking like a reversal on the weekly and daily chart. Beautiful setup.
spx I remember when i used to agree that T/A and charting didn't really matter vs narratives and market manipulation etc.
Well, that was before I lost a ton of $ trading crypto without it. Then I became OBSESSED with learning it.
It's not the cleanest and I'm still working on my skills etc.
However, I totally believe in it now.
It continues to amaze me daily with placing lines on charts BEFORE the candles come and watch them interact and not just on horizontal main numbers.
I find that diagonals with good T/A and time spent prior. You can almost feel like you set the course for the markets/design their track for the day lol.
Neutral on IBM. Looking more bearish.
As you can see here we are at a demand zone. But, we are consolidating at this zone and that usually means we break through the zone. If we bounce off of the zone, I will look for it to retest the recent trendline that we have just broken. But, if we break through the zone, I will be looking for the stock to fall all the way down to the bottom Bollinger Band on the weekly chart. The P/E ratio is at 65 which is very high so I am leaning more bearish. Also, the market as a whole has an extreme fear index which could also signal a bearish ride for this stock. On the weekly chart, we were over-extended from the top Bollinger Band and have been red the last two weeks so I do look for this downtrend to continue. If we fall, this could be a money-making monster for a couple months out put and I feel we have more room to go down then up. My overall opinion is that we might go up in the short-term but the long term we could be headed for a landslide to the downside.
Disney $Dis #Dis DisneyHere is an even more aggressive and dramatic downward channel idea and still I say we are at least due for a decent bounce. Especially if trading options etc.
Just a tighter trendline down and lower top goal then prior chart given.
I see some BEARS come out and wanted to give and even more Bearish idea and view, but still not ready to focus on SUB $78 support.
We trade the charts until they give us something else to focus on for the trade.
📈 Charting Lesson: What do I even look for in a chart?!Full-time trader here. Sharing some knowledge for free . If this helps you, show some love: follow me for more and like this idea. 👍
Why do I need a chart anyway?
First, we need to convince you of why you need a chart. No problem. Let's say you're a fundamental analysis investor. The stock has to make sense. The stock has to last forever. It needs to be a growth stock. Let's say... NASDAQ:AAPL NASDAQ:GOOG NASDAQ:NVDA NASDAQ:TSLA is a good example over the last few years. Now that you found a good candidate, when are you going to buy? At an all-time high? At an all-time low? One share a day? One share a week? No. Buying a stock without looking at the chart is like driving with a blindfold. Don't do it.
Pull up a chart.
Observe past price action.
Try to find a trend.
Plan your entry.
Do this even if you're going to hold for 20 years.
When I pull up a chart, what do I look for? I just see a bunch of lines.
Let's first make sure you are looking at the correct view. On the top left corner of your screen, you'll see your user icon. Next to it is the ticker. Next to it is the interval. Next to THAT is the chart type. Make sure you select "CANDLES". Not "hollow candles". Here's how it should look:
Mine may look a bit different because I changed my theme. But the candles is what we care about.
Now the juicy part.
Support and Resistance are Key Reversal Levels.
When you open a chart, the first thing you want to do is look for areas where the price has reached in the past and reversed or got rejected or bounced. For example, every time SPY reached 443.37 in the chart above, it reversed. Let's call this a, "key level".
If the price is ABOVE that key level, the line is called SUPPORT.
If the price is BELOW that key level, the line is called RESISTANCE.
Using the horizontal line tool, make sure you have these key support and resistance levels on your chart. Try to ONLY buy near support and sell near resistance.
If the stock is choppy, do your best. If you can't, skip it and go to another stock. There's thousands!
Stocks, Currencies, and Cryptos Move in Trends. Up or Down.
Next, try to find a "trend". A trend is something where if you connect the dots, the price jumps right from that straight line.
Pull out your trendline tool and try to connect some dots. Don't go through any candle bodies. Going through wicks is okay. It's actually recommended.
Three touches are required to make a valid trendline. If you see only TWO touches? Is the price going TOWARDS the trendline if you were to extend it? There's a good chance it's going to head towards that TL and bounce! Good job. You found a good trade potential.
Identify Reversal or Continuation Patterns.
Look for known patterns. In the example above, there is a "head and shoulders" pattern. This is a bearish reversal pattern.
Know that not all patterns will come true.
It's good to know the overall signal the market is giving.
If every trader sees it, it's likely not going to happen.
In the above example, a looming H/S pattern is scary given already bad economic conditions and recession/ inflation worries. In this case, the market may be trying to tell you something.
Understand that these patterns are not just nice-looking drawings on a chart. They work because they display some sort of buyer/ seller psychology.
I will post more examples of known patterns on my TradingView profile soon. Be sure to follow if you want to learn more.
If you benefitted from this, you are welcome to follow me, comment any questions, or share this with your friends. Good knowledge should be free. I'll post more insight soon. Thank you for reading and for your continued support. 👍
SPX Weekly TA SPX - Weekly Chart TA, Sunday, September 24th, 2023
Based on the 3 major time fibs, I am looking for a major trend into October 18th-Nov 8th period.
The 2022 High/Low time fib 2.0 was one day off from the 2023 high.
(Progress/Stalemate over the Government Shutdown can affect that thesis of timing)
Longs:
Last week's selloff left a gap above at 4401 -
Bulls want to regain the 100 day SMA. That would be the main target for a short term bounce, with the gap fill and then a test of the falling 50 day SMA. That would put us back in the value area from the July highs, and the VAH from the March lows to that same July high. Current reading is oversold on the daily, so a ST bounce is expected.
Gravity Points are stacked in the HTF Supply zone, so major resistance for LT Bulls to get through.
Shorts:
Any bounce this week will be met with bears trying to STR. They will want to see the 100 day SMA act as resistance, and will likely see more shorts step in at the gap fill & the 4000 Psych level. A failure to regain those levels should be met with increase selling and a drop below the 4300 level.
If Bears can flip the 4300 into resistance, the move to the May gap fill (4232) should be swift. I would look for Shorts to then peal positions in the HTF Demand zone from 4232 to the .382 H/L fib at 4180. The 200 day SMA is sitting in the demand zone, acting as potential added support.
LONG TERM THESIS: I am expecting the bear pressure to be in control into October. If I had to make a bet, I would look for the higher Demand Zone to be tested shortly, with a test down to the lower HTF Demand zone as a possibility before an EOY rally.
Usd still on the upside...Usd should be still bullish just that do take note it is right now at a key prior Resistance zone.
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
50 give 80chart, attempting to overcome opposition.
50 served as a resistance level for this stock in 2016–2017, and it also served as a barrier in 2018 and 2021, when attempts to break through were unsuccessful.
completed the 2022 breakout but not maintained at level.
Currently, the level of 50 to 55 is where the stock is trying to breakthrough.
Stock has good news; therefore, buy it above the level of 55 and shoot towards 80.
As support for this stock, 40 to 45
Bitcoin path given BEFORE THE NOISEAs many other larger and far more famous accounts then myself will agree with and tell you.
Show me the charts and ill show you when and WHERE to expect the news.
I gave you what route the charts and the overall macro played out in my mind BEFORE in my eyes.
Learn their ways and the WAY the GAME is PLAYED.
usd likely a bounced off to reverse upwardsAs previously mentioned the USD was at a key S, now it bounced off with higher high, likely bias would be to long on the near term.
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Hello there!
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
And if you would like to show further support for me, you can gift me some coins on tradingview! 😁
Thank you!
Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
Thank you, and please do your due diligence before any putting on any trades!
How I trade the candles. $XOM exampleHow I trade the candles. There is more not mentioned in the video but for the most part these are the basic steps I take 1st before diving into look for more confluences to help me decide during a trade.
AUDJPY - Price is in Ascending Channel on the 4 Hour Time FramePrice is trending upwards making higher highs on the 4hr timeframe. Price is at the lower level of the trend which seems like it has found support to go back up again. Please watch price either make higher highs going back up or breakout of this channel.
Please trade carefully and use your own analysis to learn how to spot trends like this.
Good Luck Trading.
Bitcoin at Massive ResistanceBitcoin price price has trouble breaking through the pink parallels without having to beat on the door a couple times. The longer price has been away from the pink line, the stronger it becomes. Now, it's very strong, and I predict a drop of >10%.
It got through the top pink line in 2021 on it's way HKEX:69 ,000 because of low interest rates, free money, low inflation, institutions starting to add crypto to investors' portfolios, and irrational euphoria from Bitcoiners. Now, people are broke, banks aren't lending, interest rates are infinitely higher (they were 0% then), real inflation is still >10%, and SPP loans and stimmy checks have run out.
If I'm wrong, I'm looking at the two blue lines encapsulating an area of resistance. If this doesn't push Bitcoin down, and it consolidates here, I'm covering my short.
