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Rookieanalysis

Rookie traders 1st idea post. Be kind.So I been watching and reading and demoing all kinds of platforms for roughly 2 years now. This year I got started with a few actual small trades and I've learned more from those few real trades than the entire 2 years educating myself with YouTube, chat groups, talking to friends etc... so today I thought, screw it, just post ur ideas and see if I learn something from it. I'm sure there will be some harsh comments and maybe even laughter, but when your done laughing or ripping at this idea, just be sure to leave a constructive critique for the guys like me trying to learn our way up... sometimes the best way to learn is to fall forward flat on ur face but if it's the best way to learn then I'm willing to learn with my face firmly seated in class.
BITSTAMP:BTCUSDShort
by Y2K_B
1
Like clockwork eh?Watching the level of support, now resistance is quite obvious to me as well as the Fibonacci retracement shows it should come back up just past .5 so like nick(the man) says to be reactive and not predictive. Always double check anyones ideas to be sure you agree in said probabilities for a potential move on the pair. Be sure to compare monthly, weekly and daily before moving to your lower time frames. And this was your rookie analysis! I’ll see you on the profit side :)
Short
by dindydoesit
Cadjpy long #rookieanalysisSo looking at the monthly time frame this pair is looking quite bullish but please double check of course for yourself. What I see is that with the Fibonacci retracement you can see it corrected it’s last upward impulse right between .5 and .382 and is pushing back up so like I said seems bullish. Looking at the weekly it’s showing the same thing as it’s on the monthly. Using the Fibonacci retracement it is showing it has nearly hit .5 but based on the trend it may test the .382 before going to the upside. Looking at the daily…. You guessed it, using the Fibonacci retracement you can see the last impulse to the downside came back to test the .382 and is continuing to push downward. So on the 4 hour this is where I see the points of support and resistance and based off of the data from the monthly, weekly, and intraday time frames I see these two ideas as being the most likely outcomes. I don’t understand the commitment of traders fully yet so my analysis has 0 basis from that but if anyone wants to add that info on here in the comments then please do, as well as any advice you have for this analysis. Thanks, and I’ll see you again soon
Long
by dindydoesit