I really botched those numbers. TSLA to $1700 and if above $1715 she goes to $2150. AMZN to $3270 and if above $3260 then she goes to $3700. GOOGL to $1775 If those numbers trade, there is no way the Spooz doesn't hit ATH's
It really is a pencil lol. I go full-screen, sit back a few feet, take in all the candles based on which time-frame looks best, ... and I guess just from looking at a million charts over the years I know where the "mean" of the candles is and then I know where the top and lower wicks extremes will be that will cause the most stops to trigger barring any news. It works best short term when there's no trend, but to some extent can be used on daily candles too for long term levels. Its hard to explain, but its all in the "balance" of the candles. Again.... its from looking at millions of charts real-time and just knowing where the balance is and where the spikes will trigger the stops. When in a range, things always move to disappoint the most players via their stops. Especially when its mostly retail players vs. the algy's. Those edits are when I fine tune it using the cursor and the price axis on the right once I get the rough levels. I don't mind writing this or sharing it, not that I would anyway, but there's no "edge" here, other than waaaay too many hours starring at this stuff.
Pretty cool. I enjoy charts quite a bit so I plan to get on your level at some point down the road. Valuable skill to be sure. Btw - has your medium to longer term forecast changed any? You still feel like your VZ top holds somewhere relative to where we are currently?
Reminds me... I don't remember which, but in one of the trading books written before the 1950's... The guy interviewed several of the successful traders at the time. He said none of what they said made sense or was usable. The only thing they said in common was they took trades when the charts "looked right". But none of them could tell him what that was.