A trendline is better than a thousand(yea, even ten thousand fundamentals)

Discussion in 'Technical Analysis' started by wastelands, Apr 27, 2022.

  1. upload_2022-4-27_10-19-32.png
     
    nooby_mcnoob, Nobert and mikeriley like this.
  2. mikeriley

    mikeriley

    That's a fantastic move..congrats
     
  3. maxinger

    maxinger

    You have a long way to go mister.

    you should also post charts where the break of the trendline gives you a false signal.
    That is the reason why 90% lost money from trading.

    Go try harder.
    Go do more research / analysis

    A trendline speaks a thousand words.
    It also speaks a thousand negative words.
     
    Last edited: Apr 27, 2022
  4. Nobert

    Nobert

    It's forming the well known dragon strike pattern.


    upload_2022-4-27_10-19-32.png
     
  5. Discipline is the key. (i.e stop-loss)
     
  6. themickey

    themickey

    Hindsight is a wonderful thing.
     
    spooz likes this.
  7. SunTrader

    SunTrader

    A simple close below low of high day gets you short way sooner. TD Combo (not pictured) also:
    ! ETSY.png
     
    Leob likes this.
  8. A hint on Technical Analysis....

    The support/resistance, highs/lows from the PRIOR move are irrelevant... except for the extreme ones.. the bottom and top of the pattern. That is... nothing from the lows of March, 2020... up to the chart highs matter now.... that's all "ancient history". "Why" you ask? It's because the investor psychology during the upswing was entirely different from the psycho during this downswing.

    The levels which are important now are the ones which developed during THIS move... from the high/top and this decline.

    FWIW...
     
    Last edited: Apr 27, 2022
    nooby_mcnoob and spooz like this.
  9. wrbtrader

    wrbtrader

    Why didn't you post the same chart back in early January 2022 when the price action broke below the trendline or maybe when the price action broke below the trendline a few times and then bounced back up...late December 2021 ???

    Also, there are other trendlines that could have been drawn on that chart...

    Why is that one particular trendline so spectacular to you ???

    wrbtrader
     
  10. wasnt on the forum
     
    #10     Apr 27, 2022
    wrbtrader likes this.