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Hazel-Ra-Owsla
Apr 22, 2022 7:26 AM

Always keep a "Plain" Chart Layout Education

COINBASE:BTCUSD1W
Bitcoin / United States DollarCoinbase

Description

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From time-to-time it helps me to remove everything except price, set the Timeframe to something large and just kick back and stare at it.

No indicators or even volume, no fib lines or Moving Average...no RSI...just the price.

You may also find this to be either cathartic or a good learning excercise.

From there its fun to add 12/26 EMA or Volume or Fib lines, but just one thing at a time.

Working backwards from price instead of looking at a TA "mess".

Comment

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Comment

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Adding Fibonacci lines for fun:

Comment

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Beyond Technical AnalysisChart PatternsTrend Analysis
Comments
introsphere
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So... what does the price tells you? I have similar approach myself, but the only thing I watch is the volume profile. Currently I'm seeing an opportunity for an uptrend to around 48k...
Hazel-Ra-Owsla
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@introsphere, Well if we are in price discovery then once RSI and MACD are pegged, Fibonacci lines are the only way I know how to make guesses. I'm sure there are other ways but I only know this way and I"m like a caveman with a club.
Hazel-Ra-Owsla
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@introsphere, Nothing specific, just helps me to simplify.
introsphere
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@Hazel-Ra-Owsla, yup... things are a bit like your profile picture now... Somewhere in between ;)
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