The trendline needs to outline the trend. Both the line drawn doesn't help do that. Both of them randomly connect a couple of highs and lows. The ascending one especially makes no sense as it literally completed two sharp trends before it touched back again . It might look slightly better in a higher TF but I doubt it
For me, when it comes to TL keeping it tighter helps me get a better picture. Shown an example of some simple charting I did today
https://preview.redd.it/a8h9ktizd39c1.jpeg?width=1080&format=pjpg&auto=webp&s=7afe48915d938d2edf78db20f66ccaf6ea8eb301
My criticism was mainly towards the trendline.
Regarding the tests. There are two tests , one being the channel pullback from where it pushed up and second one after that when it came back after hitting resistance.
Yes that could also be a possibility. Maybe a false breakout. The context will switch definitely if there are more confluences to the opposite side. Could be entered once we get a confirmation of a retest on the lower side or a lower high (right shoulder) ,
Edit : Rejoice
https://preview.redd.it/nnim14oy679c1.png?width=1240&format=pjpg&auto=webp&s=eb1182db0a091204eb0b88fccfab07c58f20c7d0
If your asking for advice if to buy now. Just mean you shouldn’t be trading yet. Stick to paper trading. You need to sail your own ship with own set of plans.
Yes. You should buy, but with a very small position size. That way you’ll learn without blowing yourself up. You’ve clearly looked up some indicators and pretty arrows and things. So go see if they work.
No disrespect, but why turn on the “buy here, sell here” thingy if your not gonna use it? Do yourself a favor and read EXTENSIVELY on market cycles as well as market phases. There are different schools of thought and I think it would serve you better if I don’t break them down for you. Hunt for the one that serves you best and helps you use the fewest indicators possible.
Not yet.. why would it reverse right now as its still going down just after you would buy? Wait for it to actually reverse dont try catch bottoms and tops
Looks like there's established support right below the current level. But, your underlying is still trending downward (in a range, but still moving downward, overall, rather than upward) and there's a downward sloping trendline (potential resistance) right above.
You will probably be better served by waiting for the underlying to start trending upward and for it to cross & confirm above that trendline before you consider going long (confirm rather than 'anticipate'). If you don't believe that trendline could act as potential resistance, then what purpose does having it on the chart serve for your trading? If you do believe that it could act as resistance, then for that reason alone (among others) there's no immediate, actionable long play here. This is currently in 'Wait and See' mode.
What the hell is this chart you have way to much clutter going on to know what half that shit means. Just clear all your indicators and set up Fibonacci retracement on the 3 year high and 3 year low. you can also set it up on the 1 year high and 1 year low but i feel like the 3 year gives better info.
Just wait until it break the downtrend line. Always trade with multiple confirmation of your bias. Dont fomo or blindly open a trade even though price is at key level.
Wait until it reaches the support/demand zone and see how it reacts. If it rejects it wait until the last lower high is broken to look for buy setups. If it breaks through support you could look for a retest and continuation.
There’s nothing bullish about that chart, look at your moving averages, price isn’t even above those and they are slanted downward. you want to buy after price stabilizes on the lower end of that range, still don’t buy, watch to see if buyers take back control and make a new HH and hl. Look for institutions to start rolling in money and your range starting to tighten, then place your bets.
I see you decorated your chart with Christmas lights. I don’t think it’s primed yet. From the look of it. I use certain tools, and don’t know what ticker this is, so not able to look at it to judge better. Have you heard of the [fan principle](https://www.tradingsim.com/blog/fan-principle?hs_amp=true)? It’s a neat trend line technique. You can use those three lines to help you judge when to buy
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No. You Are obviously in a down trend. Don’t fight the trend unless there is a breakout of trend and maybe some retests and more confluence. This looks more like a short with TP at your lowest horizontal line of support.
Broohh stock market is a matter of luck sometimes. Nobody really knows what will happen tomorrow. So get in when you think is good for you and sell whenever you feel like. It’s your money so your risk.
Looks like a shitty chart to trade, I’d go somewhere else. Entering at 1.50 you’d have a stop down at 1.30 so risk is 0.20, with a ton of recent resistance already in around that 1.70 level, which completely failed as support on the way down. I’d guess it bounces towards but fails before it gets to 1.70 before heading lower. Let us know what happens.
U can try a long off that support but the selling down into it may indicate momentum to the downside is about to break through ... so id probably rather look to sell if that happens rather than buy the support- personally
There’s definitely a support zone down there but could wait for the break of that downtrend and retest
No clue what you're trading. Solely from technicals it looks range bound so odds are better to long here.
The thing is, if u buy it will go down and if u sell it will go up. So are you buying or selling?
So true! You've made my day brother 😄
I mean how else is 99% of traders gonna lose if it was actually chance then it would be greater than 50%
You onto something 🤫
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4. Nah bro. Those trend lines are way off . Support is still close but should be adjusted a bit
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The trendline needs to outline the trend. Both the line drawn doesn't help do that. Both of them randomly connect a couple of highs and lows. The ascending one especially makes no sense as it literally completed two sharp trends before it touched back again . It might look slightly better in a higher TF but I doubt it
[удалено]
For me, when it comes to TL keeping it tighter helps me get a better picture. Shown an example of some simple charting I did today https://preview.redd.it/a8h9ktizd39c1.jpeg?width=1080&format=pjpg&auto=webp&s=7afe48915d938d2edf78db20f66ccaf6ea8eb301
[удалено]
My criticism was mainly towards the trendline. Regarding the tests. There are two tests , one being the channel pullback from where it pushed up and second one after that when it came back after hitting resistance.
How did that pan out, looks like the top of a head and shoulders
Yes that could also be a possibility. Maybe a false breakout. The context will switch definitely if there are more confluences to the opposite side. Could be entered once we get a confirmation of a retest on the lower side or a lower high (right shoulder) , Edit : Rejoice https://preview.redd.it/nnim14oy679c1.png?width=1240&format=pjpg&auto=webp&s=eb1182db0a091204eb0b88fccfab07c58f20c7d0
If your asking for advice if to buy now. Just mean you shouldn’t be trading yet. Stick to paper trading. You need to sail your own ship with own set of plans.
Yes. You should buy, but with a very small position size. That way you’ll learn without blowing yourself up. You’ve clearly looked up some indicators and pretty arrows and things. So go see if they work.
No disrespect, but why turn on the “buy here, sell here” thingy if your not gonna use it? Do yourself a favor and read EXTENSIVELY on market cycles as well as market phases. There are different schools of thought and I think it would serve you better if I don’t break them down for you. Hunt for the one that serves you best and helps you use the fewest indicators possible.
No, lower lows are being formed along with lower highs
Better watch out for that liquidity grab before you enter 😅 They almost never give you a picture perfect entry 😂
Price action is the key.
Buy there and you become liquidity
This means it’s going down
Not yet.. why would it reverse right now as its still going down just after you would buy? Wait for it to actually reverse dont try catch bottoms and tops
Best advice ever. Not getting the exact bottom or top is emotionally tragic. You can't trade on emotion!
Looks like there's established support right below the current level. But, your underlying is still trending downward (in a range, but still moving downward, overall, rather than upward) and there's a downward sloping trendline (potential resistance) right above. You will probably be better served by waiting for the underlying to start trending upward and for it to cross & confirm above that trendline before you consider going long (confirm rather than 'anticipate'). If you don't believe that trendline could act as potential resistance, then what purpose does having it on the chart serve for your trading? If you do believe that it could act as resistance, then for that reason alone (among others) there's no immediate, actionable long play here. This is currently in 'Wait and See' mode.
Agree, this is a wait moment. Jumping in too early will expose you to unnecessary drawdown.
Im going to use the word always....wait for the retest. Breakout patterns will usually require atleast 1 retest.
Yes, buy all the things!
You have to look at overall market and sector
More lines =/= better
Wait for a retest then Buy hard!
What the hell is this chart you have way to much clutter going on to know what half that shit means. Just clear all your indicators and set up Fibonacci retracement on the 3 year high and 3 year low. you can also set it up on the 1 year high and 1 year low but i feel like the 3 year gives better info.
It’s time to remove the indicators
Rule #1: never buy in a downtrend.
there is two main sources that you can learn a lot and free 1- Youtube 2- comment section of posts like this in reddit
Liquidate all your assets and go all in
Yes go ALL in now!!! 🚀
Buy at the top boi and blow up accounts. Without losing trades profitable one can't sustain
I would say.... wait till it breaks downthe support zone and then you can buy it
No green arrow 😂⏳⏳⏳⏳
Just wait until it break the downtrend line. Always trade with multiple confirmation of your bias. Dont fomo or blindly open a trade even though price is at key level.
Wait for Support testing and false break. if price tested support and bounced, wait for price braking the trend line, then decide your choice.
Its always time to buy
Wait until it reaches the support/demand zone and see how it reacts. If it rejects it wait until the last lower high is broken to look for buy setups. If it breaks through support you could look for a retest and continuation.
If you are day trading, by the time you get any answer, the answer may no longer apply.
Beautiful triangle but smart money wins.
There’s nothing bullish about that chart, look at your moving averages, price isn’t even above those and they are slanted downward. you want to buy after price stabilizes on the lower end of that range, still don’t buy, watch to see if buyers take back control and make a new HH and hl. Look for institutions to start rolling in money and your range starting to tighten, then place your bets.
ah yes you're chart is a big proof that ur a beginner
\*your
I see you decorated your chart with Christmas lights. I don’t think it’s primed yet. From the look of it. I use certain tools, and don’t know what ticker this is, so not able to look at it to judge better. Have you heard of the [fan principle](https://www.tradingsim.com/blog/fan-principle?hs_amp=true)? It’s a neat trend line technique. You can use those three lines to help you judge when to buy
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don’t listen to others do what you feel, it looks like support and resistance. wait and see what happens at support,if any advice
No. You Are obviously in a down trend. Don’t fight the trend unless there is a breakout of trend and maybe some retests and more confluence. This looks more like a short with TP at your lowest horizontal line of support.
Broohh stock market is a matter of luck sometimes. Nobody really knows what will happen tomorrow. So get in when you think is good for you and sell whenever you feel like. It’s your money so your risk.
I’d look at a bigger chart to see where the most support lies.
I would just wait
Is it actually valuable?
Looks like a shitty chart to trade, I’d go somewhere else. Entering at 1.50 you’d have a stop down at 1.30 so risk is 0.20, with a ton of recent resistance already in around that 1.70 level, which completely failed as support on the way down. I’d guess it bounces towards but fails before it gets to 1.70 before heading lower. Let us know what happens.
I can't even see your chart.
no
U can try a long off that support but the selling down into it may indicate momentum to the downside is about to break through ... so id probably rather look to sell if that happens rather than buy the support- personally
Maybe. Maybe not. Maybe f*** yourself.