Hi all,
As some of you may know I am new to all of this. I have been a gut-trader for the past 2 years and back in December, I made the decision to try and learn how TA works.
Now coincidentally, this happened to concur with the GME pre-MOASS/SS/Gamma squeeze taking off.
I took this as an opportunity to draw on the chart of the most-discussed stock of the past few months.
I know some of you say that TA is like astronomy when it comes to a stock this hyped. So please tell me what I did wrong and how you would've done things differently.
I used the low of August as my starting point and used the ATH and the through afterward as points to base my trendline on for drawing the Pitchfork.
For the Fib-Channel I decided to use the pivot point before the ATH in January and the lowest point in the trough that formed between the spikes in January and the one in March.
Don't be afraid to express your opinion, even if it is a little edgy.
I am open to a constructive discussion/conversation on why my 'analysis' is invalid.
In the meanwhile, I'll continue to try and learn more about the wonders of Technical Analysis.
Thank you for taking the time to read this post, I greatly appreciate everyone on the path to becoming a better financial decisionmaker.
Best of regards,
Arne.
If this wasn't obvious to anyone: I am everything BUT a financial advisor and everyone should do their own research/DD before making any financial decisions.
Investing in personal growth comes first to any other investment you want to make. A good education contributes greatly to making proper choices that will benefit you in the long term.
As some of you may know I am new to all of this. I have been a gut-trader for the past 2 years and back in December, I made the decision to try and learn how TA works.
Now coincidentally, this happened to concur with the GME pre-MOASS/SS/Gamma squeeze taking off.
I took this as an opportunity to draw on the chart of the most-discussed stock of the past few months.
I know some of you say that TA is like astronomy when it comes to a stock this hyped. So please tell me what I did wrong and how you would've done things differently.
I used the low of August as my starting point and used the ATH and the through afterward as points to base my trendline on for drawing the Pitchfork.
For the Fib-Channel I decided to use the pivot point before the ATH in January and the lowest point in the trough that formed between the spikes in January and the one in March.
Don't be afraid to express your opinion, even if it is a little edgy.
I am open to a constructive discussion/conversation on why my 'analysis' is invalid.
In the meanwhile, I'll continue to try and learn more about the wonders of Technical Analysis.
Thank you for taking the time to read this post, I greatly appreciate everyone on the path to becoming a better financial decisionmaker.
Best of regards,
Arne.
If this wasn't obvious to anyone: I am everything BUT a financial advisor and everyone should do their own research/DD before making any financial decisions.
Investing in personal growth comes first to any other investment you want to make. A good education contributes greatly to making proper choices that will benefit you in the long term.
Comment:
Wow! I must've been smoking something, fourth paragraph should say the low of April not August.
I know how abysmal this must look to veterans. Heck, this probably looks bad regardless of your experience with TA.