Or not??
Just takes a supper bad market day like to today to send the top dwellers to bad placed..has breeched a major supprt zone..
I was in this and recognized trouble at the recent 2nd top..sold it..
It is good to know chart patterns so you know when the market is turning against you. Patterns morph and they are not always correct, but they do give me a heads up...
In technical analysis, transitions between rising and falling trends are often signaled by price patterns. By definition, a price pattern is a recognizable configuration of price movement that is identified using a series of trendlines and/or curves. Learning to recognize them requires a lot of time and energy, but worth it in the end. Reading, YouTube, and just watching the market (A lot) is how I am learning..
When a price pattern signals a change in trend direction, it is known as a reversal pattern; (Inverse H&S, H&S, Butterfly, Gartley, rising wedges, falling wedges and more) a continuation pattern occurs when the trend continues in its existing direction following a brief pause (Triangles, rectangles, (but these can break either way) and flags are examples of continuation patterns..
Some folks use trendlines and indicators, some use fundamental analysis, some do not use anything at all! I am a pattern trader..but when the market turns it is good to have cash on the side, so you can buy the next bottom..No market goes straight down as a rule, except the covid bottom was exceptionally fast. There will be rallies as the market gasps for air on the way down...just be safe
Rainy days and bad market days always get me down )o:
Smart money was doing an awful lot of selling last week..
Not a recommendation
Just takes a supper bad market day like to today to send the top dwellers to bad placed..has breeched a major supprt zone..
I was in this and recognized trouble at the recent 2nd top..sold it..
It is good to know chart patterns so you know when the market is turning against you. Patterns morph and they are not always correct, but they do give me a heads up...
In technical analysis, transitions between rising and falling trends are often signaled by price patterns. By definition, a price pattern is a recognizable configuration of price movement that is identified using a series of trendlines and/or curves. Learning to recognize them requires a lot of time and energy, but worth it in the end. Reading, YouTube, and just watching the market (A lot) is how I am learning..
When a price pattern signals a change in trend direction, it is known as a reversal pattern; (Inverse H&S, H&S, Butterfly, Gartley, rising wedges, falling wedges and more) a continuation pattern occurs when the trend continues in its existing direction following a brief pause (Triangles, rectangles, (but these can break either way) and flags are examples of continuation patterns..
Some folks use trendlines and indicators, some use fundamental analysis, some do not use anything at all! I am a pattern trader..but when the market turns it is good to have cash on the side, so you can buy the next bottom..No market goes straight down as a rule, except the covid bottom was exceptionally fast. There will be rallies as the market gasps for air on the way down...just be safe
Rainy days and bad market days always get me down )o:
Smart money was doing an awful lot of selling last week..
Not a recommendation