DID YOU DRAW WRONG TREND LINES ALL THE TIME ?
Hi traders, jump right in the issue, Bitcoin. I see many traders said that we broke out the downtrend line and that is the bullish signal. And the line they drew is the red line of my chart, isn't it ? You also drew a trend line like that by connecting 2 high price points right ?
Hmmm... well, actually this method of drawing trend line is classic and sometimes helpful in stock markets. But this is Bitcoin, a high volatility market, it's easy to make some change in the market that can lead to false tops, false bottom and then false trend lines. As a... goldfish of this market, i know how easy it is to trick you by making small price change lol. That's why never 100% trust the top/bottom point of market.
So what am i trying to say here ? - In my personal view, we should draw a line that cross a lot of past tops and bottoms. As you can see the blue lines i drew in the chart, it's an example of useful line and i touch tops/bottoms price about 10 times. It's not too beautiful but it will be more effective in the market.
Remember, always use LOG SCALE in markets that made big change of price in recent years.
Above are some of my suggestion after wandering around this site. Enjoy!
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For any ideas or questions, tell me what you think in the comment section. I don't talk and explain much about my idea, i'm a type of man that THINK much, not talk much, so i'm really sorry for not explaining my idea clearly! Everything i brought you is the result of my hours of work.
If you want to learn something, these are some best source trusted by me:
- Technical Analysis: stockcharts.com, investopedia.com
- Fundamental Analysis: medium.com, bitcointalk
- Books: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications, The Disciplined Trader: Developing Winning Attitudes
My predictions are accurate and helpful ? Follow me, i can help you define the market moves. Of course, no one can totally predict the future. But we trade smart, we trade differently. Always use the f*cking stop loss.
AS ALWAYS, SORRY FOR MY BAD ENGLISH AND SAFE TRADING EVERYONE!
-----------------------------
Who am i ? I'm a tiny cryptocurrency whale (or a goldfish), a swing trader and an emotionless chart analyst that you can trust lol.
- MrPalmTree
Hmmm... well, actually this method of drawing trend line is classic and sometimes helpful in stock markets. But this is Bitcoin, a high volatility market, it's easy to make some change in the market that can lead to false tops, false bottom and then false trend lines. As a... goldfish of this market, i know how easy it is to trick you by making small price change lol. That's why never 100% trust the top/bottom point of market.
So what am i trying to say here ? - In my personal view, we should draw a line that cross a lot of past tops and bottoms. As you can see the blue lines i drew in the chart, it's an example of useful line and i touch tops/bottoms price about 10 times. It's not too beautiful but it will be more effective in the market.
Remember, always use LOG SCALE in markets that made big change of price in recent years.
Above are some of my suggestion after wandering around this site. Enjoy!
-----------------------------------------
For any ideas or questions, tell me what you think in the comment section. I don't talk and explain much about my idea, i'm a type of man that THINK much, not talk much, so i'm really sorry for not explaining my idea clearly! Everything i brought you is the result of my hours of work.
If you want to learn something, these are some best source trusted by me:
- Technical Analysis: stockcharts.com, investopedia.com
- Fundamental Analysis: medium.com, bitcointalk
- Books: Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications, The Disciplined Trader: Developing Winning Attitudes
My predictions are accurate and helpful ? Follow me, i can help you define the market moves. Of course, no one can totally predict the future. But we trade smart, we trade differently. Always use the f*cking stop loss.
AS ALWAYS, SORRY FOR MY BAD ENGLISH AND SAFE TRADING EVERYONE!
-----------------------------
Who am i ? I'm a tiny cryptocurrency whale (or a goldfish), a swing trader and an emotionless chart analyst that you can trust lol.
- MrPalmTree
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