How To Read Chart

Discussion in 'Technical Analysis' started by pela78, Sep 16, 2019.

  1. pela78

    pela78

    On the previous post for my followers I wrote:

    The most rational expectation - a continuation of the persistence of bulls and more attack on the 7020 support level (caused by major 7k figure).



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    y5eLsmh[1].png1006x877 132 KB



    Unfortunately, it was my mistake. I put the wrong word “bulls” instead of “bears”. I hope, you have understood my thoughts correctly, as bulls can not attack support levels.

    What new did we have to get on the chart?

    [​IMG]
    1/ SLKT above previous minor highs and above round number. This diversion designed to: a) kill sellers b) trap buyers. It is a sign of upcoming decline
    2/ SB (confirmation)
    3/ ND (more confirmation)

    Then we got the Breakdown. The successful attack of bears on the 7020 support level (caused by major 7k figure). It was a very heavy dump. 7k should act as the resistance now.
     
    #101     Dec 17, 2019
    Erin likes this.
  2. Erin

    Erin Guest

    No I disagree. The approach with volume is more complex then simple SD or advanced buy sell orders as seen in the bars. Pattern and wave theory are built on how institutes take profits or prepare for a long or a short...it is not garbage...it is buy and sell orders and how you see them in a chart
     
    #102     Jan 25, 2020
    easymon1 and murray t turtle like this.
  3. easymon1

    easymon1

    May 1st, The Tom O'Brien Show on TFNN - 2020
    copy paste into browser bar -

    //youtu.be/fYsg4VuLKrE?t=162
    spy, ndx100 to 192 (213),

    youtu.be/fYsg4VuLKrE?t=364
    gc, ty us, dxy, eur,

    youtu.be/fYsg4VuLKrE?t=736
    dow, ndx100,

    youtu.be/fYsg4VuLKrE?t=1458
    spy h of l 262 (282)


    May 1st, Trade What You See with Larry Pesavento on TFNN - 2020

    youtu.be/2XrtaKtKGh4?t=1499
    cycles weekly

    youtu.be/2XrtaKtKGh4?t=1022
    crude oil

    youtu.be/2XrtaKtKGh4?t=786
    nov beans

    youtu.be/2XrtaKtKGh4?t=322
    dollar index

    youtu.be/BA1iZAyU2qA?t=1099
    spx,


    May 1st, The Bull Bear Hour on TFNN - 2020
    youtu.be/kbJhcxSgZSE?t=2358
    uso etf storytime, indexing causing crazy things...

    youtu.be/kbJhcxSgZSE?t=2547
    es, nq 'done', gc, eur,

    basil chapman formations.jpg basil chapman vix.jpg
    May 1st, The Tiger Technician's Hour with Basil Chapman on TFNN - 2020
    youtu.be/ObRq8bV96_4?t=894
    es

    youtu.be/ObRq8bV96_4?t=1477
    $indu, $SPX, QQQ, $DXY, gc,

    youtu.be/ObRq8bV96_4?t=2180
    "technical friday", es, $VIX.X
     
    #103     May 3, 2020
    wrbtrader likes this.
  4. wrbtrader

    wrbtrader

    I like the CBOE Volatility annotated chart.

    https://www.elitetrader.com/et/attachments/basil-chapman-vix-jpg.226846/

    I can't remember the website but it would do the same along with overlaying a Emini ES futures chart on top of the CBOE Volatility...very interesting to look at with the annotations to give it the market context.

    Yet, I'm not an indicator person but I liked everything else about the chart.

    Charts without the market context info....just boring charts.

    wrbtrader
     
    Last edited: May 3, 2020
    #104     May 3, 2020