I'm a novice at TA so this is probably a stupid question, but when it comes to weekly and monthly time frames - what confuses me is this: if you look at the price action over a long time span for most stocks, you'll see that (for example) TSLA was $17 in 2020. When a company grows and their revenue increases, the price moves on to another chapter and (for the most part) never revists the price of the early days.
So my confusion with your analysis is I don't understand how one can look at these higher time frames and expect the familiar TA price action patterns could still be relevant. It seems almost dangerous to look through this lens, especially if you're going to be shorting.
Again, I'm a total novice and this is probably a 101 for you guys, but please shed some light on this for me.
sfc95
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@Craig-in-Naples, Hi, and thank you for your feedback and question. As you can see/notice, my keylevels are just for 2022-2023 structure, even if im on W - Time Frame. Im not interested now what AMD done 6 years ago...
So my confusion with your analysis is I don't understand how one can look at these higher time frames and expect the familiar TA price action patterns could still be relevant. It seems almost dangerous to look through this lens, especially if you're going to be shorting.
Again, I'm a total novice and this is probably a 101 for you guys, but please shed some light on this for me.